Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MKC	MC CORMICK	144,899	$20.18M	4.9%	$31.82	+96.7%	COM	579780206
MA	MASTERCARD	106,729	$20.13M	4.9%	$74.55	+156.1%	COM	57636Q104
MSFT	MICROSOFT	134,473	$13.66M	3.3%	$29.62	+237.6%	COM	594918104
ROL	ROLLINS	361,143	$13.04M	3.2%	$12.80	+85.1%	COM	775711104
AMGN	AMGEN	66,894	$13.02M	3.2%	$129.62	+21.0%	COM	031162100
GGG	GRACO	298,224	$12.48M	3.0%	$32.10	+18.9%	COM	384109104
AAPL	APPLE	77,134	$12.17M	3.0%	$20.93	+119.9%	COM	037833100
CPRT	COPART	252,086	$12.04M	2.9%	$6.21	+98.7%	COM	217204106
—	ACCENTURE PLC	83,504	$11.77M	2.9%	$73.73	—	SHS CL A	G1150G111
TTC	TORO	200,017	$11.18M	2.7%	$40.75	+42.5%	COM	891092108
APH	AMPHENOL	136,773	$11.08M	2.7%	$10.97	+82.8%	COM	032095101
PEP	PEPSICO	99,783	$11.02M	2.7%	$64.70	+40.2%	COM	713448108
—	AON PLC	75,466	$10.97M	2.7%	$133.20	—	SHS CL A	G0408V102
ROST	ROSS STORES	131,312	$10.93M	2.7%	$37.55	+124.6%	COM	778296103
NEU	NEWMARKET	25,709	$10.59M	2.6%	$250.98	+36.2%	COM	651587107
SEIC	S E I INVESTMENTS	223,698	$10.33M	2.5%	$30.26	+57.9%	COM	784117103
ORCL	ORACLE	227,423	$10.27M	2.5%	$27.99	+54.2%	COM	68389X105
GPN	GLOBAL PAYMENTS	98,797	$10.19M	2.5%	$54.57	+92.1%	COM	37940X102
TJX	TJX COMPANIES	227,277	$10.17M	2.5%	$35.14	+30.6%	COM	872540109
NKE	NIKE	134,198	$9.949M	2.4%	$41.42	+64.5%	COM	654106103
—	VARIAN MEDICAL SYSTEMS	81,621	$9.248M	2.3%	$75.70	—	COM	92220P105
CTSH	COGNIZANT TECH	142,972	$9.075M	2.2%	$39.80	+57.3%	COM	192446102
CBRL	CRACKER BARREL	52,154	$8.337M	2.0%	$63.34	+95.9%	COM	22410J106
ORLY	O'REILLY AUTOMOTIVE	22,770	$7.84M	1.9%	$14.56	+56.3%	COM	67103H107
PKG	PACKAGING CORP	87,412	$7.295M	1.8%	$51.65	+44.7%	COM	695156109
AME	AMETEK	107,616	$7.285M	1.8%	$40.99	+66.8%	COM	031100100
NVO	NOVO-NORDISK ADR	157,089	$7.237M	1.8%	$55.52	—	ADR	670100205
MRSH	MARSH & MC LENNAN	90,342	$7.204M	1.8%	$72.56	+2.6%	COM	571748102
DEO	DIAGEO PLC ADR	48,564	$6.886M	1.7%	$142.82	—	SPON ADR	25243Q205
—	DOLLAR TREE	70,878	$6.401M	1.6%	$58.92	—	COM	256747106
—	EATON VANCE	173,036	$6.087M	1.5%	$40.81	—	COM	278265103
CNI	CANADIAN NATIONAL RAILWAY	81,534	$6.042M	1.5%	$48.70	+48.8%	COM	136375102
ABBV	ABBVIE	62,793	$5.788M	1.4%	$31.60	+105.0%	COM	00287Y109
SYK	STRYKER	35,817	$5.614M	1.4%	$69.93	+121.3%	COM	863667101
EXPD	EXPEDITORS INTL	81,798	$5.569M	1.4%	$47.57	+35.2%	COM	302130109
PII	POLARIS INDUSTRIES	66,302	$5.084M	1.2%	$94.35	-4.8%	COM	731068102
HSIC	HENRY SCHEIN	57,301	$4.499M	1.1%	$66.64	-1.2%	COM	806407102
SLGN	SILGAN HOLDINGS	186,253	$4.399M	1.1%	$27.20	-7.5%	COM	827048109
LLY	LILLY (ELI) & CO	28,219	$3.265M	0.8%	$43.24	+134.4%	COM	532457108
—	RAYTHEON	19,702	$3.021M	0.7%	$165.06	—	COM	755111507
—	LEAR	23,960	$2.943M	0.7%	$161.21	—	COM	521865105
—	KELLOGG	50,130	$2.857M	0.7%	$39.72	+16.8%	COM	487836108
UNH	UNITEDHEALTH GROUP	10,911	$2.718M	0.7%	$220.86	+6.4%	COM	91324P102
DLX	DELUXE	66,556	$2.558M	0.6%	$39.70	-15.4%	COM	248019101
SHW	SHERWIN WILLIAMS	6,210	$2.443M	0.6%	$124.94	+1.3%	COM	824348106
KMB	KIMBERLY-CLARK	21,420	$2.44M	0.6%	$64.20	+34.6%	COM	494368103
FDS	FACTSET RESEARCH SYSTEMS	12,180	$2.437M	0.6%	$135.86	+51.2%	COM	303075105
RHI	ROBERT HALF INTL	41,859	$2.394M	0.6%	$45.29	+35.5%	COM	770323103
ALK	ALASKA AIR GROUP	31,059	$1.889M	0.5%	$71.72	-12.5%	COM	011659109
TSM	TAIWAN SEMICONDUCTOR ADR	44,254	$1.633M	0.4%	$32.34	—	ADR	874039100
INTC	INTEL	33,873	$1.589M	0.4%	$21.23	+89.3%	COM	458140100
—	LAB CORP OF AMER	12,460	$1.574M	0.4%	$110.97	—	COM	50540R409
MTD	METTLER-TOLEDO	2,408	$1.361M	0.3%	$338.04	+71.8%	COM	592688105
UPS	UNITED PARCEL SERVICE	13,430	$1.309M	0.3%	$65.35	+25.6%	COM	911312106
CACC	CREDIT ACCEPTANCE CORP	3,239	$1.236M	0.3%	$402.77	0.0%	COM	225310101
LOW	LOWES	10,344	$955K	0.2%	$70.24	+20.5%	COM	548661107
CASY	CASEY'S GENERAL STORES	7,310	$936K	0.2%	$110.67	+9.4%	COM	147528103
CHRW	C H ROBINSON WORLDWIDE	7,475	$628K	0.2%	$55.92	+34.8%	COM	12541W209
V	VISA	4,541	$599K	0.1%	$79.70	+64.9%	COM	92826C839
GILD	TORCHMARK	7,793	$580K	0.1%	$49.42	+7.3%	COM	375558103
BEN	FRANKLIN RESOURCES	18,715	$555K	0.1%	$29.78	-26.4%	COM	354613101
DCI	DONALDSON	11,733	$509K	0.1%	$29.44	+56.4%	COM	257651109
CDNS	CADENCE DESIGN SYSTEM	11,546	$502K	0.1%	$33.28	+30.5%	COM	127387108
TROW	PRICE T ROWE GROUP	5,013	$462K	0.1%	$86.56	-15.5%	COM	74144T108
PGR	PROGRESSIVE	6,830	$412K	0.1%	$51.01	+2.9%	COM	743315103
SNA	SNAP ON	2,259	$328K	0.1%	$133.47	-1.6%	COM	833034101
AAP	ADVANCE AUTO PARTS	2,061	$324K	0.1%	$100.93	+45.7%	COM	00751Y106
FFIV	F5 NETWORKS	1,638	$265K	0.1%	$179.81	-4.6%	COM	315616102
FISV	FISERV	2,890	$212K	0.1%	$70.32	+9.9%	COM	337738108
—	REAVES UTILITY	7,000	$206K	0.1%	$29.43	—	COM	756158101
—	FORD	10,000	$76,000	0.0%	$7.60	—	COM	345370100