Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MA	MasterCard	60,810	$5.253M	4.1%	$70.66	+15.0%	COM	57636Q104
—	Johnson Controls Inc.	73,270	$3.696M	2.9%	$37.86	—	COM	478366107
VTR	Ventas Inc.	48,500	$3.541M	2.7%	$42.95	+24.4%	COM	92276F100
NVS	Novartis A G Spon ADR	35,000	$3.451M	2.7%	$85.38	—	ADR	66987V109
—	Express Scripts Hldgs CO	38,550	$3.345M	2.6%	$70.84	—	COM	302182100
—	EMC Corporation	121,898	$3.116M	2.4%	$29.26	—	COM	268648102
CNI	Canadian Natl Railway	46,250	$3.093M	2.4%	$46.04	+21.2%	ADR	136375102
ECL	Ecolab Inc.	26,400	$3.02M	2.3%	$75.00	+29.6%	COM	278865100
PEP	PepsiCo Inc.	30,500	$2.916M	2.3%	$56.60	+23.1%	COM	713448108
HAS	Hasbro Inc.	44,000	$2.783M	2.2%	$36.34	+13.4%	COM	418056107
—	Dow Chemical Company	56,903	$2.73M	2.1%	$47.25	—	COM	260543103
—	Tupperware Corp	38,650	$2.668M	2.1%	$69.04	—	COM	899896104
SWK	Stanley Black & Decker	27,900	$2.661M	2.1%	$72.52	0.0%	COM	854502101
TMO	Thermo Fisher Scientific	18,500	$2.485M	1.9%	$90.17	+38.3%	COM	883556102
—	Pentair LTD	38,700	$2.434M	1.9%	$65.48	—	ADR	709631105
—	Bk. of Amer. Conv. Pfd.	2,104	$2.434M	1.9%	$1156.84	—	PFD	60505682
QCOM	Qualcomm Inc	34,950	$2.423M	1.9%	$47.42	+8.9%	COM	747525103
BA	Boeing Company	15,976	$2.398M	1.9%	$82.94	+54.1%	COM	097023105
OXY	Occidental Petroleum	32,650	$2.383M	1.8%	$64.52	-13.6%	COM	674599105
CMI	Cummins Inc.	16,450	$2.281M	1.8%	$98.53	+6.4%	COM	231021106
—	Plum Creek Timber Co	51,800	$2.251M	1.7%	$39.39	—	COM	729251108
UPS	United Parcel Service	23,185	$2.248M	1.7%	$69.97	-0.8%	COM	911312106
—	ACE Ltd.	19,900	$2.219M	1.7%	$114.88	—	COM	G0070K103
UNP	Union Pacific Corp.	19,950	$2.161M	1.7%	$68.21	+34.7%	COM	907818108
—	Waste Management Inc.	39,300	$2.131M	1.7%	$47.53	—	COM	94196L109
JPM	J.P. Morgan Chase & Co.	34,650	$2.099M	1.6%	$37.73	+17.4%	COM	46625H100
—	Tiffany & Co.	22,800	$2.007M	1.6%	$82.77	—	COM	886547108
DVA	Davita Healthcare	24,600	$1.998M	1.6%	$76.74	0.0%	COM	23918K108
IVZ	Invesco Ltd.	48,700	$1.933M	1.5%	$21.13	+14.3%	ADR	G491BT108
—	Sinclair Broadcast Grp A	59,350	$1.864M	1.4%	$32.77	—	COM	829226109
—	Seagate Technology	35,100	$1.826M	1.4%	$56.71	—	ADR	G7945M107
PG	Procter & Gamble	22,150	$1.815M	1.4%	$55.69	+14.2%	COM	742718109
—	Fresh Market Inc.	43,950	$1.786M	1.4%	$35.07	—	COM	35804H106
JNJ	Johnson & Johnson	16,999	$1.71M	1.3%	$63.71	+17.9%	COM	478160104
—	Xerox Corporation	132,600	$1.704M	1.3%	$13.23	—	COM	984121103
—	Monsanto Co.	14,850	$1.671M	1.3%	$104.83	—	COM	61166W101
VLO	Valero Energy Corp New	26,150	$1.664M	1.3%	$33.12	+10.4%	COM	91913Y100
DE	Deere Company	18,250	$1.6M	1.2%	$68.47	+6.6%	COM	244199105
PFE	Pfizer Inc.	45,800	$1.593M	1.2%	$17.18	+17.0%	COM	717081103
TCBI	Texas Cap Bancshares Inc.	31,500	$1.532M	1.2%	$55.08	-14.4%	COM	88224Q107
SAP	SAP AG	21,100	$1.523M	1.2%	$73.55	—	ADR	803054204
IDXX	Idexx Labs	9,500	$1.468M	1.1%	$53.03	+46.7%	COM	45168D104
—	Actavis PLC	4,897	$1.457M	1.1%	$297.53	—	ADR	G0083B108
SLB	Schlumberger Ltd.	17,400	$1.452M	1.1%	$60.60	+1.2%	ADR	806857108
—	Eaton Corporation	20,500	$1.393M	1.1%	$63.38	—	ADR	278058102
—	Hess Corporation	20,100	$1.364M	1.1%	$69.65	—	COM	42809H107
—	Textainer Group Hldgs	45,450	$1.363M	1.1%	$22.08	—	ADR	G8766E109
AKAM	Akamai Technologies	19,150	$1.361M	1.1%	$43.07	+53.5%	COM	00971T101
WSM	Williams Sonoma	16,901	$1.347M	1.0%	$22.82	+34.5%	COM	969904101
—	Transcanada Corp.	31,450	$1.344M	1.0%	$46.32	—	ADR	89353D107
—	Google Inc Class A	2,390	$1.326M	1.0%	$570.36	—	COM	38259P706
TD	Toronto Dominion Bank	30,700	$1.315M	1.0%	$51.90	-17.2%	ADR	891160509
SPY	SPDR S&P 500 Index	6,090	$1.191M	0.9%	$173.28	—	COM	78462F103
—	Cerner Corp	15,900	$1.165M	0.9%	$71.43	—	COM	156782104
CVS	CVS Health Corp.	10,700	$1.104M	0.9%	$74.28	0.0%	COM	126650100
PRU	Prudential Financial Inc.	13,600	$1.092M	0.8%	$53.89	-6.3%	COM	744320102
—	Triangle Capital	46,624	$1.063M	0.8%	$20.05	—	COM	895848109
EBAY	Ebay, Inc.	15,750	$908K	0.7%	$19.80	+7.2%	COM	278642103
STLD	Steel Dynamics, Inc.	44,500	$894K	0.7%	$17.12	-13.9%	COM	858119100
—	Potash Corp.	25,000	$806K	0.6%	$34.56	—	COM	73755L107
—	Coach, Inc.	19,050	$789K	0.6%	$41.42	—	COM	189754104
—	Blackrock Inc.	2,100	$768K	0.6%	$328.18	—	COM	09247X101
TDC	Teradata Corp	16,350	$722K	0.6%	$43.07	+1.5%	COM	88076W103
GILD	Gilead Sciences Inc.	7,000	$687K	0.5%	$70.55	0.0%	COM	375558103
—	Google Inc Class C	1,060	$581K	0.5%	$548.11	—	COM	38259P508
IJR	iShares S&P Smallcap 600	4,700	$555K	0.4%	$97.97	—	COM	464287804
UAA	Under Armour Inc.	5,500	$444K	0.3%	$22.34	+64.7%	COM	904311107
FELE	Franklin Electric	10,800	$412K	0.3%	$31.89	0.0%	COM	353514102
—	Total S.A.	8,300	$412K	0.3%	$64.44	—	ADR	286269105
AAPL	Apple Corp	2,653	$330K	0.3%	$18.62	+44.2%	COM	037833100
CVX	Chevrontexaco Corp	2,981	$313K	0.2%	$73.76	-9.3%	COM	166764100
—	Ingersoll-Rand Company	4,250	$289K	0.2%	$57.87	—	COM	G47791101
GOGO	Gogo Inc.	13,900	$265K	0.2%	$17.02	0.0%	COM	38046C109
VHT	Vanguard Health Care ETF	1,856	$252K	0.2%	$125.96	—	COM	92204A504
—	Tumi Holdings Inc	8,800	$215K	0.2%	$24.43	—	COM	89969Q104