Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MA	MasterCard	57,410	$5.174M	4.5%	$70.66	+25.0%	COM	57636Q104
HAS	Hasbro Inc.	43,750	$3.156M	2.8%	$36.34	+51.0%	COM	418056107
—	Express Scripts Hldgs CO	38,550	$3.121M	2.7%	$70.84	—	COM	302182100
—	Johnson Controls Inc.	72,340	$2.992M	2.6%	$37.86	—	COM	478366107
ECL	Ecolab Inc.	26,600	$2.919M	2.6%	$75.00	+33.1%	COM	278865100
—	EMC Corporation	120,098	$2.902M	2.5%	$29.26	—	COM	268648102
PEP	PepsiCo Inc.	30,500	$2.876M	2.5%	$56.60	+22.8%	COM	713448108
VTR	Ventas Inc.	50,000	$2.803M	2.4%	$42.91	-3.2%	COM	92276F100
SWK	Stanley Black & Decker	27,800	$2.696M	2.4%	$72.52	+8.7%	COM	854502101
UPS	United Parcel Service	26,688	$2.634M	2.3%	$69.68	-2.7%	COM	911312106
CNI	Canadian Natl Railway	46,050	$2.614M	2.3%	$46.04	+4.5%	ADR	136375102
—	Dow Chemical Company	58,808	$2.493M	2.2%	$47.26	—	COM	260543103
—	Bk. of Amer. Conv. Pfd.	2,295	$2.472M	2.2%	$1077.12	—	PFD	60505682
OXY	Occidental Petroleum	35,850	$2.371M	2.1%	$63.48	-19.2%	COM	674599105
JPM	J.P. Morgan Chase & Co.	34,650	$2.113M	1.8%	$37.73	+31.5%	COM	46625H100
TMO	Thermo Fisher Scientific	17,200	$2.103M	1.8%	$90.17	+40.1%	COM	883556102
BA	Boeing Company	15,977	$2.092M	1.8%	$82.94	+48.7%	COM	097023105
—	Plum Creek Timber Co	51,600	$2.039M	1.8%	$39.39	—	COM	729251108
QCOM	Qualcomm Inc	36,750	$1.975M	1.7%	$47.25	-6.6%	COM	747525103
—	ACE Ltd.	18,785	$1.942M	1.7%	$114.88	—	ADR	G0070K103
—	Pentair LTD	38,000	$1.94M	1.7%	$65.48	—	ADR	709631105
FISV	Fiserv Inc.	21,600	$1.871M	1.6%	$43.26	0.0%	COM	337738108
—	Textainer Group Hldgs	112,900	$1.862M	1.6%	$20.39	—	ADR	G8766E109
GOOGL	Alphabet Inc Class A	2,910	$1.858M	1.6%	$31.95	0.0%	COM	02079K305
CMI	Cummins Inc.	16,550	$1.797M	1.6%	$98.53	-5.7%	COM	231021106
DVA	Davita Healthcare	24,600	$1.779M	1.6%	$76.74	+1.0%	COM	23918K108
—	Tiffany & Co.	22,550	$1.741M	1.5%	$82.77	—	COM	886547108
UNP	Union Pacific Corp.	19,550	$1.728M	1.5%	$68.21	+5.8%	COM	907818108
—	Seagate Technology	36,950	$1.655M	1.4%	$56.17	—	ADR	G7945M107
TCBI	Texas Cap Bancshares Inc.	31,500	$1.651M	1.4%	$55.08	+1.4%	COM	88224Q107
GILD	Gilead Sciences Inc.	16,100	$1.581M	1.4%	$73.75	+5.1%	COM	375558103
—	Tupperware Corp	31,750	$1.571M	1.4%	$69.04	—	COM	899896104
JNJ	Johnson & Johnson	16,700	$1.559M	1.4%	$63.71	+13.8%	COM	478160104
PG	Procter & Gamble	21,550	$1.55M	1.4%	$55.69	+1.2%	COM	742718109
VLO	Valero Energy Corp New	25,650	$1.542M	1.3%	$33.12	+27.4%	COM	91913Y100
IVZ	Invesco Ltd.	49,300	$1.54M	1.3%	$21.17	+5.3%	ADR	G491BT108
—	Coach, Inc.	51,150	$1.48M	1.3%	$36.56	—	COM	189754104
—	Sinclair Broadcast Grp A	58,450	$1.48M	1.3%	$32.77	—	COM	829226109
PFE	Pfizer Inc.	46,300	$1.454M	1.3%	$17.22	+19.7%	COM	717081103
NVS	Novartis A G Spon ADR	15,700	$1.443M	1.3%	$85.38	—	ADR	66987V109
SAP	SAP AG	21,500	$1.393M	1.2%	$73.51	—	ADR	803054204
IDXX	Idexx Labs	18,100	$1.344M	1.2%	$61.04	+17.3%	COM	45168D104
AKAM	Akamai Technologies	18,850	$1.302M	1.1%	$43.07	+67.5%	COM	00971T101
DE	Deere Company	17,450	$1.291M	1.1%	$68.47	+7.1%	COM	244199105
CVS	CVS Health Corp.	13,050	$1.259M	1.1%	$74.49	+4.4%	COM	126650100
—	Transcanada Corp.	39,050	$1.233M	1.1%	$45.21	—	ADR	89353D107
SLB	Schlumberger Ltd.	17,400	$1.2M	1.0%	$60.60	-2.8%	ADR	806857108
PRU	Prudential Financial Inc.	14,850	$1.132M	1.0%	$53.83	-1.6%	COM	744320102
TD	Toronto Dominion Bank	27,700	$1.092M	1.0%	$51.90	-23.3%	ADR	891160509
—	Fresh Market Inc.	48,350	$1.092M	1.0%	$34.11	—	COM	35804H106
—	Eaton Corporation	19,800	$1.016M	0.9%	$63.38	—	ADR	278058102
—	Hess Corporation	19,500	$976K	0.9%	$69.65	—	COM	42809H107
—	Towers Watson & Company	8,300	$974K	0.9%	$125.81	—	COM	891894107
—	Cerner Corp	16,100	$965K	0.8%	$71.40	—	COM	156782104
ALGN	Align Technology, Inc.	16,900	$959K	0.8%	$59.10	+0.9%	COM	016255101
WSM	Williams Sonoma	11,903	$909K	0.8%	$31.78	0.0%	COM	969904101
—	Monsanto Co.	10,250	$875K	0.8%	$104.83	—	COM	61166W101
SPY	SPDR S&P 500 Index	4,469	$856K	0.7%	$173.28	—	COM	78462F103
—	Triangle Capital	48,454	$799K	0.7%	$20.10	—	COM	895848109
HP	Helmerich & Payne Inc	16,250	$768K	0.7%	$56.61	0.0%	COM	423452101
COP	Conocophillips Com	15,200	$729K	0.6%	$36.80	0.0%	COM	20825C104
FBIN	Fortune Brands Home & Security	13,650	$648K	0.6%	$34.16	+3.9%	COM	34964C106
—	Blackrock Inc.	2,100	$625K	0.5%	$328.18	—	COM	09247X101
GOOG	Alphabet Inc Class C	920	$560K	0.5%	$30.50	0.0%	COM	02079K107
UAA	Under Armour Inc.	5,500	$532K	0.5%	$22.34	+112.8%	COM	904311107
IJR	iShares S&P Smallcap 600	4,215	$449K	0.4%	$97.97	—	COM	464287804
ODFL	Old Dominion Freight Lines	7,350	$448K	0.4%	$21.84	0.0%	COM	679580100
—	Potash Corp.	21,500	$442K	0.4%	$34.56	—	ADR	73755L107
FELE	Franklin Electric	15,000	$408K	0.4%	$30.35	-15.5%	COM	353514102
AAPL	Apple Corp.	3,304	$364K	0.3%	$20.13	+30.6%	COM	037833100
STLD	Steel Dynamics, Inc.	18,500	$318K	0.3%	$17.12	-9.3%	COM	858119100
—	Tumi Holdings Inc	17,700	$312K	0.3%	$22.46	—	COM	89969Q104
VHT	Vanguard Health Care ETF	1,882	$231K	0.2%	$125.79	—	COM	92204A504
GOGO	Gogo Inc.	15,000	$229K	0.2%	$17.31	-1.3%	COM	38046C109
BOX	Box Inc.	11,700	$147K	0.1%	$14.89	0.0%	COM	10316T104