Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
JNJ	Johnson & Johnson	145,012	$20.26M	12.3%	$65.75	+68.8%	COM	478160104
—	JPMorgan Chase	98,926	$10.58M	6.4%	$58.86	—	COM	46625h100
XOM	Exxon Mobil	69,277	$5.795M	3.5%	$55.85	+2.3%	COM	30231G102
PFE	Pfizer	147,623	$5.347M	3.2%	$17.65	+34.8%	COM	717081103
—	DowDuPont	68,873	$4.905M	3.0%	$69.27	—	COM	26078j100
PG	Procter & Gamble	45,769	$4.205M	2.6%	$58.01	+25.2%	COM	742718109
PEP	PepsiCo	32,090	$3.848M	2.3%	$57.75	+54.1%	COM	713448108
INTC	Intel	82,787	$3.822M	2.3%	$18.86	+93.8%	COM	458140100
BMY	Bristol-Myers Squibb	58,747	$3.6M	2.2%	$34.56	+34.4%	COM	110122108
NSRGY	Nestle ADR	41,700	$3.586M	2.2%	$74.13	—	COM	641069406
DIS	Disney	29,535	$3.175M	1.9%	$64.93	+49.9%	COM	254687106
ABBV	Abbvie	32,160	$3.11M	1.9%	$30.59	+118.6%	COM	00287Y109
CVX	Chevron	23,774	$2.976M	1.8%	$71.08	+17.5%	COM	166764100
CLX	Clorox	20,000	$2.975M	1.8%	$63.81	+68.5%	COM	189054109
AAPL	Apple	15,640	$2.646M	1.6%	$22.69	+72.3%	COM	037833100
AMAT	Applied Materials	44,165	$2.257M	1.4%	$41.80	+18.2%	COM	038222105
—	Merck	38,059	$2.141M	1.3%	$50.04	—	COM	58933y105
ABT	Abbott Laboratories	35,935	$2.051M	1.2%	$29.33	+64.0%	COM	002824100
—	General Electric	115,114	$2.009M	1.2%	$27.94	—	COM	369604103
SCHW	Schwab, Charles	36,528	$1.876M	1.1%	$33.67	+25.1%	COM	808513105
HD	Home Depot	9,727	$1.844M	1.1%	$72.26	+96.1%	COM	437076102
IBM	International Business Machine	11,720	$1.798M	1.1%	$106.40	-4.0%	COM	459200101
MKC	McCormick	15,798	$1.61M	1.0%	$27.37	+55.9%	COM	579780206
—	Verizon Communications	29,294	$1.551M	0.9%	$50.52	—	COM	92343v104
—	3M	6,560	$1.544M	0.9%	$140.23	—	COM	88579y101
MCD	McDonald's Corp.	8,825	$1.518M	0.9%	$70.01	+98.1%	COM	580135101
AXP	American Express	15,000	$1.49M	0.9%	$69.27	+23.1%	COM	025816109
SPGI	S&P Global	8,749	$1.482M	0.9%	$96.34	+57.7%	COM	78409V104
WM	Waste Management	17,156	$1.481M	0.9%	$38.59	+83.3%	COM	94106L109
MSFT	Microsoft	16,209	$1.386M	0.8%	$35.32	+113.1%	COM	594918104
—	Celgene	12,586	$1.313M	0.8%	$126.45	—	COM	151020104
OC	Owens Corning	14,093	$1.296M	0.8%	$70.21	+20.0%	COM	690742101
WLK	Westlake Chemical Corp.	11,914	$1.269M	0.8%	$64.95	+25.9%	COM	960413102
EMR	Emerson Electric	17,486	$1.218M	0.7%	$48.20	+10.5%	COM	291011104
—	IAC Interactive Corp.	9,953	$1.217M	0.7%	$117.64	—	COM	44919P508
—	Alphabet Class C	1,080	$1.131M	0.7%	$784.74	—	COM	02079k107
VAC	Marriott Vacations Worldwide	8,135	$1.1M	0.7%	$115.42	+14.3%	COM	57164Y107
SLB	Schlumberger	15,945	$1.075M	0.7%	$65.00	-21.2%	COM	806857108
ICLR	Icon PLC	9,447	$1.059M	0.6%	$106.42	+8.3%	COM	G4705A100
HII	Huntington Ingalls Ind.	4,380	$1.032M	0.6%	$176.36	+13.2%	COM	446413106
LEA	Lear Corp.	5,766	$1.019M	0.6%	$128.59	+16.0%	COM	521865204
ROK	Rockwell Automation	5,062	$994K	0.6%	$142.88	+14.8%	COM	773903109
—	Dell Technologies Class V	12,192	$991K	0.6%	$77.26	—	COM	24703L103
SNPS	Synopsys	11,451	$976K	0.6%	$77.74	+11.3%	COM	871607107
—	Suntrust Banks	14,812	$957K	0.6%	$59.84	—	COM	867914103
—	Zimmer Biomet	7,900	$954K	0.6%	$93.20	—	COM	98956p102
AMGN	Amgen	5,168	$899K	0.5%	$84.70	+63.2%	COM	031162100
CBT	Cabot Corp.	14,290	$880K	0.5%	$43.52	+13.0%	COM	127055101
EQIX	Equinix	1,940	$879K	0.5%	$381.77	+3.7%	COM	29444U700
DLB	Dolby Class A	14,107	$875K	0.5%	$46.82	+15.3%	COM	25659T107
WMT	Wal-Mart Stores	8,842	$873K	0.5%	$20.33	+31.9%	COM	931142103
—	Wyndham Worldwide Corp.	7,537	$873K	0.5%	$105.60	—	COM	98310W108
—	Flir Systems	18,666	$870K	0.5%	$39.05	—	COM	302445101
CDNS	Cadence Design System	20,723	$867K	0.5%	$36.95	+16.3%	COM	127387108
—	Monsanto	7,392	$864K	0.5%	$114.25	—	COM	61166w101
NEM	Newmont Mining Corp.	22,928	$860K	0.5%	$28.71	+1.4%	COM	651639106
MAS	Masco Corp.	19,144	$841K	0.5%	$33.17	+7.9%	COM	574599106
UNP	Union Pacific	6,250	$839K	0.5%	$72.00	+40.0%	COM	907818108
PWR	Quanta Services	21,322	$834K	0.5%	$34.44	+6.9%	COM	74762E102
DHI	D R Horton	16,320	$833K	0.5%	$33.41	+27.5%	COM	23331A109
—	C R Bard	2,494	$826K	0.5%	$320.85	—	COM	067383109
—	Store Cap Corp	30,945	$806K	0.5%	$25.08	—	COM	862121100
—	Varian Medical Systems	6,981	$776K	0.5%	$100.27	—	COM	92220P105
RGA	Reinsurance Group of America	4,849	$756K	0.5%	$135.55	+11.7%	COM	759351604
RS	Reliance Steel & Aluminum	8,797	$755K	0.5%	$73.16	+7.6%	COM	759509102
DOV	Dover Corp.	7,445	$752K	0.5%	$60.96	+11.8%	COM	260003108
PII	Polaris Ind.	6,000	$744K	0.5%	$94.74	+25.3%	COM	731068102
HUM	Humana	2,930	$727K	0.4%	$229.88	+0.3%	COM	444859102
RES	RPC Inc.	28,395	$725K	0.4%	$18.16	+16.1%	COM	749660106
MAA	Mid America Apartment Communit	6,995	$703K	0.4%	$78.62	-0.3%	COM	59522J103
UNH	United Health Group	3,120	$688K	0.4%	$111.24	+67.3%	COM	91324P102
—	Anadarko Petroleum	12,500	$671K	0.4%	$50.55	—	COM	032511107
—	FedEx	2,665	$665K	0.4%	$218.88	—	COM	31428x106
—	South Street Corp.	7,533	$657K	0.4%	$90.00	—	COM	840441109
—	Express Scripts	8,491	$634K	0.4%	$70.45	—	COM	30219g108
—	AT&T	15,618	$607K	0.4%	$35.14	—	COM	030177109
DIOD	Diodes	21,175	$607K	0.4%	$26.96	+15.2%	COM	254543101
DTE	DTE Energy	5,511	$603K	0.4%	$70.00	+3.3%	COM	233331107
NDAQ	Nasdaq	7,788	$598K	0.4%	$21.79	+2.0%	COM	631103108
CMS	CMS Energy	12,329	$583K	0.4%	$36.89	+3.3%	COM	125896100
FITB	Fifth 3rd Bancorp	19,150	$581K	0.4%	$19.49	+10.3%	COM	316773100
NVDA	Nvidia Corp.	2,992	$579K	0.4%	$4.13	+18.9%	COM	67066G104
BK	Bank of New York Mellon	10,560	$569K	0.3%	$24.30	+75.5%	COM	064058100
KMB	Kimberly Clark	4,663	$563K	0.3%	$66.36	+32.0%	COM	494368103
—	Genesee & Wyoming	6,776	$533K	0.3%	$78.66	—	COM	371559105
—	Retail Opportunity Investments	26,488	$528K	0.3%	$19.03	—	COM	76131N101
HOLX	Hologic	12,106	$518K	0.3%	$40.36	-1.2%	COM	436440101
—	First American Financial	9,100	$510K	0.3%	$50.00	—	COM	31847r102
AMP	Ameriprise Financial	3,000	$508K	0.3%	$78.85	+73.6%	COM	03076C106
NSC	Norfolk Southern	3,476	$504K	0.3%	$65.71	+73.5%	COM	655844108
RIG	Transocean Ltd	45,836	$490K	0.3%	$9.05	+14.7%	COM	H8817H100
EIX	Edison International	7,637	$483K	0.3%	$55.31	-2.9%	COM	281020107
FIS	Fidelity National Info.	5,020	$472K	0.3%	$40.05	+102.7%	COM	31620M106
—	Spectrum Brands Holdings	4,146	$466K	0.3%	$105.94	—	COM	84763R101
—	Cisco Systems	11,838	$453K	0.3%	$24.53	—	COM	17275R952
—	Mylan N V	10,000	$423K	0.3%	$42.30	—	COM	N59465109
EG	Everest RE Group	1,857	$411K	0.2%	$211.82	-10.0%	COM	G3223R108
AWK	American Water Works	4,384	$401K	0.2%	$69.16	+9.5%	COM	030420103
—	Liberty Ventures	7,401	$401K	0.2%	$57.54	—	COM	53071M856
—	Zoetis	5,525	$398K	0.2%	$48.94	—	COM	98978v103
URI	United Rentals	2,200	$378K	0.2%	$115.71	+27.4%	COM	911363109
CAT	Caterpillar	2,332	$367K	0.2%	$66.01	+76.2%	COM	149123101
KO	Coca-Cola	7,750	$356K	0.2%	$26.95	+32.2%	COM	191216100
BKR	Baker Hughes A GE	10,985	$348K	0.2%	$28.14	-9.1%	COM	05722G100
YUM	Yum! Brands	4,160	$339K	0.2%	$40.89	+66.8%	COM	988498101
UPS	United Parcel Service 'B'	2,400	$286K	0.2%	$65.53	+31.6%	COM	911312106
EFX	Equifax	2,368	$279K	0.2%	$77.84	+34.2%	COM	294429105
KWR	Quaker Chemical	1,800	$271K	0.2%	$97.60	+58.5%	COM	747316107
QCOM	Qualcomm	3,721	$238K	0.1%	$49.00	0.0%	COM	747525103
PM	Philip Morris	2,243	$237K	0.1%	$48.32	+44.0%	COM	718172109
—	Dr. Pepper Snapple	2,400	$233K	0.1%	$64.39	—	COM	26138E109
BAC	Bank America	7,821	$231K	0.1%	$22.78	0.0%	COM	060505104
TRV	Travelers	1,675	$227K	0.1%	$93.44	+18.3%	COM	89417E109
CBRE	CBRE Group	5,025	$218K	0.1%	$41.45	0.0%	COM	12504L109
DLR	Digital Realty Trust	1,900	$216K	0.1%	$88.57	0.0%	COM	253868103
MDLZ	Mondelez	4,911	$210K	0.1%	$34.48	0.0%	COM	609207105
F	Ford Motor	10,400	$130K	0.1%	$9.00	-11.0%	COM	345370860