Clifford Swan Investment Counsel 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Flaherty & Crumrine Preferred	ETF	33848E106	157	12,500	SH		SOLE		12,500	0	0
iShares Barclays 1-3 Year Cred	ETF	464288646	467	4,435	SH		SOLE		2,965	0	1,470
IShares Barclays Intermediate	ETF	464288638	960	8,745	SH		SOLE		8,745	0	0
iShares Core U.S. Aggregate Bo	ETF	464287226	257	2,350	SH		SOLE		2,350	0	0
iShares iBoxx $ Inv Grade Corp	ETF	464287242	439	3,645	SH		SOLE		2,695	0	950
iShares S&P U.S. Preferred Sto	ETF	464288687	1,024	26,135	SH		SOLE		1,985	0	24,150
Nuveen Preferred Securities In	ETF	67072C105	196	19,166	SH		SOLE		19,166	0	0
PIMCO Enhanced Short Maturity	ETF	72201R833	7,086	69,661	SH		SOLE		65,761	0	3,900
PIMCO High Income Fund	ETF	722014107	425	48,590	SH		SOLE		48,590	0	0
Schwab US TIPS ETF	ETF	808524870	716	13,001	SH		SOLE		13,001	0	0
SPDR DoubleLine Total Return T	ETF	78467v848	4,626	93,999	SH		SOLE		75,599	0	18,400
SPDR Wells Fargo Preferred Sto	ETF	78464a292	255	5,660	SH		SOLE		0	0	5,660
Vanguard Int Term Bond ETF	ETF	921937819	1,507	17,825	SH		SOLE		262	0	17,563
Vanguard Int Term Corp Bond ET	ETF	92206C870	357	4,075	SH		SOLE		1,400	0	2,675
Vanguard Short Term Bond ETF	ETF	921937827	671	8,399	SH		SOLE		4,140	0	4,259
Vanguard Short Term Corp Bond	ETF	92206C409	9,328	116,546	SH		SOLE		78,824	0	37,722
Vanguard Total Bond Market ETF	ETF	921937835	975	11,917	SH		SOLE		985	0	10,932
Western Asset High Income Oppo	ETF	95766K109	124	24,395	SH		SOLE		24,395	0	0
Western Asset Income Fund	ETF	95766T100	1,700	113,994	SH		SOLE		86,969	0	27,025
Western Asset Premier Bond Fun	ETF	957664105	165	11,775	SH		SOLE		8,675	0	3,100
Guggenheim S&P 500 Equal Wt In	ETF	78355W106	236	2,549	SH		SOLE		2,549	0	0
iShares Core S&P 500 ETF	ETF	464287200	227	934	SH		SOLE		934	0	0
iShares Core S&P Mid-Cap ETF	ETF	464287507	200	1,152	SH		SOLE		1,132	0	20
iShares Core S&P Small-Cap ETF	ETF	464287804	991	14,132	SH		SOLE		5,830	0	8,302
iShares DJ Select Dividend Ind	ETF	464287168	314	3,410	SH		SOLE		3,110	0	300
iShares DJ US Housing	ETF	464288752	777	22,900	SH		SOLE		22,900	0	0
iShares North American Tech	ETF	464287549	412	2,850	SH		SOLE		2,600	0	250
iShares Russell 2000 Index	ETF	464287655	3,510	24,908	SH		SOLE		23,683	0	1,225
iShares S&P Midcap 400/Barra	ETF	464287705	394	2,651	SH		SOLE		500	0	2,151
iShares Tr S&P 100	ETF	464287101	259	2,425	SH		SOLE		2,425	0	0
Kayne Anderson MLP Inv Com	ETF	486606106	682	36,158	SH		SOLE		24,700	0	11,458
PowerShares QQQ Trust Ser 1	ETF	73935A104	361	2,620	SH		SOLE		2,185	0	435
Rydex S&P Midcap 400 Pure Gro	ETF	78355w601	308	2,201	SH		SOLE		0	0	2,201
Select Sector SPDR Technology	ETF	81369Y803	231	4,215	SH		SOLE		4,215	0	0
Select Sector SPDR Utilities	ETF	81369Y886	312	6,000	SH		SOLE		5,400	0	600
SPDR Dow Jones Industrial Avg	ETF	78467X109	357	1,675	SH		SOLE		1,075	0	600
SPDR S&P Dividend ETF	ETF	78464A763	602	6,773	SH		SOLE		5,673	0	1,100
SPDR S&P MidCap 400	ETF	78467Y107	815	2,565	SH		SOLE		2,335	0	230
SPDR Trust Series 1 (spy)	ETF	78462F103	4,126	17,062	SH		SOLE		15,722	0	1,340
Tortoise Energy Infr	ETF	89147L100	284	9,330	SH		SOLE		7,130	0	2,200
Vanguard Growth ETF	ETF	922908736	283	2,226	SH		SOLE		2,226	0	0
Vanguard High Dividend Yield I	ETF	921946406	325	4,160	SH		SOLE		4,160	0	0
Vanguard REIT ETF	ETF	922908553	709	8,519	SH		SOLE		5,151	0	3,368
Vanguard S&P 500 ETF	ETF	922908363	271	1,221	SH		SOLE		1,221	0	0
Vanguard Small-Cap ETF	ETF	922908751	987	7,284	SH		SOLE		7,284	0	0
Vanguard Total Stock Market ET	ETF	922908769	637	5,121	SH		SOLE		5,121	0	0
Vanguard World Fds Inf Tech ET	ETF	92204A702	423	3,000	SH		SOLE		3,000	0	0
iShares currency Hedged MSCI E	ETF	46434v803	692	24,341	SH		SOLE		0	0	24,341
iShares MSCI EAFE Growth Index	ETF	464288885	218	2,951	SH		SOLE		2,951	0	0
iShares MSCI EAFE Index Fund	ETF	464287465	1,532	23,491	SH		SOLE		12,345	0	11,146
iShares MSCI Emerging Markets	ETF	464287234	1,556	37,602	SH		SOLE		33,450	0	4,152
Vanguard FTSE All World ex US	ETF	922042775	389	7,775	SH		SOLE		6,000	0	1,775
Vanguard FTSE Emerging Markets	ETF	922042858	622	15,235	SH		SOLE		15,235	0	0
Vanguard MSCI EAFE ETF	ETF	921943858	932	22,567	SH		SOLE		22,567	0	0
Vanguard MSCI European ETF	ETF	922042874	232	4,202	SH		SOLE		4,202	0	0
21st Century Fox Class A	COM	90130a101	568	20,058	SH		SOLE		20,058	0	0
3M Company	COM	88579Y101	15,531	74,601	SH		SOLE		55,901	0	18,700
Abbott Labs	COM	002824100	16,023	329,623	SH		SOLE		285,475	0	44,148
AbbVie Inc.	COM	00287Y109	12,968	178,839	SH		SOLE		159,148	0	19,691
Accenture PLC	COM	G1151C101	30,600	247,409	SH		SOLE		223,804	0	23,605
Adient PLC	COM	G0084W101	933	14,275	SH		SOLE		13,251	0	1,024
Adobe Systems	COM	00724F101	274	1,934	SH		SOLE		1,934	0	0
Agilent Technologies Inc.	COM	00846U101	13,586	229,060	SH		SOLE		226,489	0	2,571
Akamai Technologies Inc.	COM	00971T101	3,124	62,710	SH		SOLE		48,895	0	13,815
Albemarle Corp.	COM	012653101	4,138	39,208	SH		SOLE		39,208	0	0
Allegion Plc	COM	G0176J109	314	3,867	SH		SOLE		3,077	0	790
Allergan Inc	COM	G0177J108	8,786	36,141	SH		SOLE		29,779	0	6,362
Allstate Corp.	COM	020002101	474	5,361	SH		SOLE		4,019	0	1,342
Alphabet Inc Class A	COM	02079K305	12,838	13,809	SH		SOLE		12,936	0	873
Alphabet Inc Class C	COM	02079K107	7,671	8,442	SH		SOLE		7,629	0	813
Altria Group, Inc.	COM	02209S103	9,566	128,455	SH		SOLE		85,946	0	42,509
Amazon Com Inc	COM	023135106	7,231	7,470	SH		SOLE		7,256	0	214
America Movil S.A. de C.V. Ser	COM	02364W105	258	16,210	SH		SOLE		16,210	0	0
American Express Co.	COM	025816109	6,242	74,100	SH		SOLE		67,825	0	6,275
American Wtr Wks Inc.	COM	030420103	719	9,230	SH		SOLE		380	0	8,850
Ameriprise Financial, Inc.	COM	03076C106	469	3,686	SH		SOLE		2,630	0	1,056
AmerisourceBergen Corporation	COM	03073E105	231	2,441	SH		SOLE		2,346	0	95
Amgen, Inc.	COM	031162100	10,339	60,028	SH		SOLE		46,878	0	13,149
ANSYS, Inc.	COM	03662Q105	201	1,650	SH		SOLE		1,650	0	0
Apache Corp	COM	037411105	2,730	56,948	SH		SOLE		50,442	0	6,506
Apple Inc.	COM	037833100	50,011	347,250	SH		SOLE		312,114	0	35,137
Arthur J. Gallagher & Co.	COM	363576109	240	4,197	SH		SOLE		1,547	0	2,650
Astrazeneca PLC - Spons ADR	COM	046353108	594	17,410	SH		SOLE		7,980	0	9,430
AT&T Inc.	COM	00206R102	6,403	169,710	SH		SOLE		144,861	0	24,849
Automatic Data Proc.	COM	053015103	7,870	76,809	SH		SOLE		58,199	0	18,610
Bank of America Corp	COM	060505104	1,943	80,091	SH		SOLE		73,886	0	6,205
Bank of New York Mellon Corp.	COM	064058100	21,228	416,078	SH		SOLE		387,360	0	28,718
Bank of the Ozarks	COM	063904106	586	12,496	SH		SOLE		1,180	0	11,316
Bard (C.R.)	COM	067383109	11,945	37,789	SH		SOLE		35,101	0	2,688
Baxter International Inc	COM	071813109	918	15,157	SH		SOLE		13,007	0	2,150
Becton Dickinson & Co.	COM	075887109	1,948	9,984	SH		SOLE		814	0	9,170
Bed Bath & Beyond	COM	075896100	6,438	211,780	SH		SOLE		200,165	0	11,615
Bemis Company	COM	081437105	210	4,540	SH		SOLE		4,540	0	0
Berkshire Hathaway (100=1 Clas	COM	084990175	1,528	600	SH		SOLE		600	0	0
Berkshire Hathaway A	COM	084670108	4,839	19	SH		SOLE		16	0	3
Berkshire Hathaway B	COM	084670702	41,446	244,709	SH		SOLE		219,247	0	25,462
Blackrock 2001	COM	09247X101	230	545	SH		SOLE		545	0	0
BlockRock Capital Investment C	COM	092533108	392	52,400	SH		SOLE		0	0	52,400
Boeing Co.	COM	097023105	19,979	101,034	SH		SOLE		95,089	0	5,945
Boswell J G Co	COM	101205102	320	465	SH		SOLE		465	0	0
BP PLC - Spons ADR	COM	055622104	6,717	193,846	SH		SOLE		153,699	0	40,147
Bristol-Myers Squibb Co.	COM	110122108	18,759	336,674	SH		SOLE		277,318	0	59,356
Broadcom Ltd. Ordinary	COM	Y09827109	475	2,038	SH		SOLE		1,918	0	120
Campbell Soup Co.	COM	134429109	492	9,433	SH		SOLE		9,433	0	0
Carrefour SA - SP ADR	COM	144430204	52	10,198	SH		SOLE		10,198	0	0
Casey's General Stores	COM	147528103	1,320	12,325	SH		SOLE		10,875	0	1,450
Caterpillar Inc.	COM	149123101	6,905	64,257	SH		SOLE		54,600	0	9,657
Cathay Intl Hld	COM	G1965E103	3	19,000	SH		SOLE		19,000	0	0
CDK Global Inc.	COM	12508e101	576	9,274	SH		SOLE		7,038	0	2,236
Cedar Fair L.P.	COM	150185106	257	3,560	SH		SOLE		3,010	0	550
Celgene Corp	COM	151020104	339	2,612	SH		SOLE		1,526	0	1,086
Cerner	COM	156782104	8,303	124,906	SH		SOLE		98,915	0	25,991
Chevron Corp.	COM	166764100	28,245	270,726	SH		SOLE		225,810	0	44,916
Chubb LTD	COM	H1467J104	734	5,046	SH		SOLE		4,969	0	77
Cisco Systems, Inc.	COM	17275R102	12,922	412,839	SH		SOLE		356,789	0	56,050
Clorox Company	COM	189054109	2,670	20,042	SH		SOLE		14,644	0	5,398
CME Group Inc.	COM	12572Q105	465	3,710	SH		SOLE		0	0	3,710
Coach, Inc.	COM	189754104	15,976	337,480	SH		SOLE		295,221	0	42,259
Coca-Cola Company	COM	191216100	4,051	90,313	SH		SOLE		83,508	0	6,805
Colgate-Palmolive Co.	COM	194162103	23,208	313,075	SH		SOLE		291,388	0	21,687
Comcast Corp Cl A	COM	20030N101	333	8,562	SH		SOLE		5,948	0	2,614
Comcast Corp. Class A	COM	20030N101	623	16,001	SH		SOLE		14,776	0	1,225
Conagra Inc.	COM	205887102	1,020	28,526	SH		SOLE		28,526	0	0
ConocoPhillips	COM	20825C104	11,178	254,266	SH		SOLE		237,702	0	16,564
Consolidated Edison Inc.	COM	209115104	995	12,307	SH		SOLE		8,907	0	3,400
Constellation Brands Cl A	COM	21036P108	206	1,064	SH		SOLE		303	0	761
Corning Inc.	COM	219350105	258	8,600	SH		SOLE		8,600	0	0
Costco Wholesale Corp.	COM	22160K105	31,920	199,588	SH		SOLE		177,650	0	21,938
CSX Corporation	COM	126408103	427	7,829	SH		SOLE		7,829	0	0
Cummins Inc	COM	231021106	3,551	21,892	SH		SOLE		8,717	0	13,175
CVS Health Corp.	COM	126650100	430	5,345	SH		SOLE		3,745	0	1,600
Danaher Corp.	COM	235851102	246	2,910	SH		SOLE		1,772	0	1,138
DCP Midstream, LP	COM	23311p100	648	19,162	SH		SOLE		0	0	19,162
Deere & Co.	COM	244199105	1,105	8,938	SH		SOLE		7,790	0	1,148
Dell Technologies Inc	COM	24703L103	463	7,579	SH		SOLE		7,051	0	528
Discovery Communications Ser.	COM	25470F302	12,708	504,092	SH		SOLE		450,482	0	53,610
Dominion Resources Inc.	COM	25746U109	310	4,044	SH		SOLE		4,044	0	0
Dow Chemical Company	COM	260543103	940	14,899	SH		SOLE		10,675	0	4,224
DTE Energy Company	COM	233331107	409	3,870	SH		SOLE		2,932	0	938
Du Pont E I De Nemours	COM	263534109	2,197	27,218	SH		SOLE		18,915	0	8,303
Duke Energy Corp. New	COM	26441C204	735	8,793	SH		SOLE		3,441	0	5,352
Duke Realty Corp	COM	264411505	465	16,622	SH		SOLE		3,100	0	13,522
DXC Technology Co	COM	23355L106	5,565	72,540	SH		SOLE		71,199	0	1,341
Eaton Corp. PLC	COM	G29183103	876	11,255	SH		SOLE		11,255	0	0
eBay Inc.	COM	278642103	6,700	191,874	SH		SOLE		155,658	0	36,216
Ecolab, Inc.	COM	278865100	2,358	17,761	SH		SOLE		15,900	0	1,861
Edgewell Personal Care Co	COM	28035Q102	1,044	13,729	SH		SOLE		13,729	0	0
Edison International	COM	281020107	619	7,916	SH		SOLE		7,916	0	0
Edwards Lifesciences Corp.	COM	28176E108	14,093	119,186	SH		SOLE		114,626	0	4,560
Electronic Arts	COM	285512109	324	3,065	SH		SOLE		3,065	0	0
Emerson Electric Co.	COM	291011104	20,243	339,539	SH		SOLE		271,086	0	68,453
Enbridge Energy Management	COM	29250X103	192	12,458	SH		SOLE		12,458	0	0
Enbridge Energy Partners LP	COM	29250R106	623	38,950	SH		SOLE		32,750	0	6,200
Energizer Holdings Inc New	COM	29272W109	667	13,883	SH		SOLE		13,883	0	0
Enterprise Products Partners L	COM	293792107	1,315	48,559	SH		SOLE		13,020	0	35,539
Equity Residential	COM	29476L107	533	8,100	SH		SOLE		6,100	0	2,000
Essex Property Trust	COM	297178105	3,120	12,126	SH		SOLE		8,912	0	3,214
Expeditors Int'l Of Washington	COM	302130109	885	15,672	SH		SOLE		15,372	0	300
Express Scripts Holding Compan	COM	30219G108	409	6,409	SH		SOLE		6,128	0	281
ExxonMobil Corporation	COM	30231G102	39,379	487,783	SH		SOLE		404,195	0	83,588
Facebook Inc	COM	30303M102	838	5,551	SH		SOLE		5,226	0	325
Farmers and Merchants Bank	COM	308243104	421	55	SH		SOLE		45	0	10
Fastenal Co.	COM	311900104	11,549	265,315	SH		SOLE		238,225	0	27,090
Flextronics International Ltd.	COM	Y2573F102	2,540	155,705	SH		SOLE		137,895	0	17,810
Ford Motor Co.	COM	345370860	189	16,924	SH		SOLE		6,724	0	10,200
Franklin Resources Inc	COM	354613101	13,069	291,775	SH		SOLE		264,240	0	27,535
Frontier Communications Corp.	COM	35906A306	29	25,117	SH		SOLE		19,129	0	5,988
Gap Inc. Del	COM	364760108	5,102	232,000	SH		SOLE		202,650	0	29,350
GC International, Inc.	COM	361559107	16	77,500	SH		SOLE		77,500	0	0
General Electric	COM	369604103	31,282	1,158,152	SH		SOLE		933,427	0	224,725
General Mills Inc.	COM	370334104	1,820	32,852	SH		SOLE		4,123	0	28,729
Gilead Sciences Inc	COM	375558103	9,298	131,369	SH		SOLE		108,490	0	22,879
GlaxoSmithKline PLC-ADR	COM	37733W105	317	7,350	SH		SOLE		6,445	0	905
Goldman Sachs Group Inc.	COM	38141G104	4,744	21,378	SH		SOLE		19,928	0	1,450
Grainger Inc., W.W.	COM	384802104	279	1,548	SH		SOLE		928	0	620
Hain Celestial Group Inc.	COM	405217100	1,156	29,778	SH		SOLE		26,228	0	3,550
Hennessy Advisors Inc	COM	425885100	307	20,250	SH		SOLE		20,250	0	0
Hewlett Packard Enterprise Co	COM	42824C109	13,942	840,359	SH		SOLE		827,975	0	12,384
Home Depot, Inc.	COM	437076102	8,101	52,811	SH		SOLE		42,392	0	10,419
Honeywell Int'l Inc.	COM	438516106	12,528	93,994	SH		SOLE		93,094	0	900
HP Inc.	COM	40434L105	14,758	844,305	SH		SOLE		825,236	0	19,069
ICON Public Limited Company	COM	G4705A100	230	2,349	SH		SOLE		2,349	0	0
Illinois Tool Works Inc.	COM	452308109	6,757	47,166	SH		SOLE		39,981	0	7,185
Infusystem Holdings Inc	COM	45685K102	35	20,000	SH		SOLE		20,000	0	0
Ingersoll-Rand PLC	COM	G47791101	2,048	22,408	SH		SOLE		19,353	0	3,055
Intel Corp.	COM	458140100	18,147	537,855	SH		SOLE		469,387	0	68,468
Intercontinental Exchange	COM	45866f104	243	3,690	SH		SOLE		3,690	0	0
International Bus Mach	COM	459200101	18,488	120,188	SH		SOLE		96,214	0	23,974
Intuit Inc.	COM	461202103	9,105	68,554	SH		SOLE		56,827	0	11,727
Intuitive Surgical Inc.	COM	46120E602	323	345	SH		SOLE		345	0	0
Invesco Ltd Shs	COM	G491BT108	228	6,485	SH		SOLE		6,485	0	0
Jacobs Engineering Group Inc.	COM	469814107	6,323	116,258	SH		SOLE		105,837	0	10,421
Johnson & Johnson	COM	478160104	40,948	309,535	SH		SOLE		255,986	0	53,549
Johnson Controls International	COM	G51502105	7,382	170,248	SH		SOLE		135,903	0	34,345
JPMorgan Chase & Co.	COM	46625H100	20,637	225,784	SH		SOLE		180,967	0	44,817
Kellogg Co.	COM	487836108	1,328	19,119	SH		SOLE		4,369	0	14,750
Keysight Technologies, Inc.	COM	49338L103	4,052	104,075	SH		SOLE		103,381	0	694
Kimberly-Clark Corp.	COM	494368103	1,181	9,145	SH		SOLE		8,498	0	647
Koninklijke KPN NV Spon ADR	COM	780641205	62	19,094	SH		SOLE		19,094	0	0
Kraft Heinz Co Com	COM	500754106	1,882	21,971	SH		SOLE		16,436	0	5,535
Laboratory Corp. of America	COM	50540R409	3,408	22,112	SH		SOLE		21,322	0	790
Lamb Weston Holdings, Inc	COM	513272104	404	9,170	SH		SOLE		9,170	0	0
Las Vegas Sands	COM	517834107	924	14,470	SH		SOLE		8,535	0	5,935
Life Storage Inc.	COM	53223X107	396	5,350	SH		SOLE		5,350	0	0
Lilly Eli & Co.	COM	532457108	592	7,190	SH		SOLE		2,505	0	4,685
Lincoln National Corp.	COM	534187109	596	8,818	SH		SOLE		8,818	0	0
Lockheed Martin Corp.	COM	539830109	4,823	17,375	SH		SOLE		17,375	0	0
Lowe's Companies	COM	548661107	25,246	325,629	SH		SOLE		288,972	0	36,657
Magellan Midstream Partners	COM	559080106	2,430	34,095	SH		SOLE		27,342	0	6,753
Marriott Int'l, Inc.	COM	571903202	256	2,552	SH		SOLE		2,552	0	0
Marsh & McLennan Companies	COM	571748102	1,523	19,532	SH		SOLE		3,475	0	16,057
Mastercard Inc-Cl A	COM	57636Q104	874	7,200	SH		SOLE		7,200	0	0
McDonald's Corp.	COM	580135101	17,651	115,245	SH		SOLE		93,606	0	21,639
McKesson Corp.	COM	58155Q103	5,590	33,973	SH		SOLE		28,543	0	5,430
Medtronic Plc.	COM	g5960l103	1,453	16,368	SH		SOLE		15,703	0	665
Merck & Co., Inc. New	COM	58933Y105	4,258	66,439	SH		SOLE		53,914	0	12,525
Mercury General Ins	COM	589400100	806	14,930	SH		SOLE		10,390	0	4,540
Meredith Corp.	COM	589433101	910	15,300	SH		SOLE		3,300	0	12,000
MetLife	COM	59156R108	235	4,277	SH		SOLE		2,869	0	1,408
Microsoft Corp.	COM	594918104	30,540	443,058	SH		SOLE		368,940	0	74,119
Minerals Technologies Inc.	COM	603158106	873	11,930	SH		SOLE		10,830	0	1,100
Mondelez International	COM	609207105	4,058	93,955	SH		SOLE		59,934	0	34,021
Monsanto Company	COM	61166W101	19,355	163,523	SH		SOLE		152,363	0	11,160
Monster Beverage Corp.	COM	611740101	238	4,800	SH		SOLE		4,800	0	0
Moody's Corporation	COM	615369105	486	3,990	SH		SOLE		3,990	0	0
MSA Safety Inc.	COM	553498106	307	3,778	SH		SOLE		3,518	0	260
Nestle Sponsored ADR	COM	641069406	1,244	14,270	SH		SOLE		12,100	0	2,170
Netapp, Inc	COM	64110D104	3,956	98,784	SH		SOLE		93,299	0	5,485
NewMarket Corp	COM	651587107	3,914	8,500	SH		SOLE		8,500	0	0
NextEra Energy Inc.	COM	65339F101	873	6,230	SH		SOLE		4,780	0	1,450
Nike, Inc.	COM	654106103	10,809	183,207	SH		SOLE		132,739	0	50,468
Nordstrom Inc.	COM	655664100	10,511	219,756	SH		SOLE		201,271	0	18,485
Norfolk Southern Corp.	COM	655844108	1,017	8,356	SH		SOLE		6,055	0	2,301
Northrop Grumman Corp.	COM	666807102	6,585	25,653	SH		SOLE		25,653	0	0
Novartis AG ADS	COM	66987V109	10,477	125,520	SH		SOLE		115,387	0	10,133
Novo Nordisk ADR	COM	670100205	11,839	276,029	SH		SOLE		245,279	0	30,750
Nucor Corp.	COM	670346105	2,297	39,695	SH		SOLE		35,467	0	4,228
Oaktree Capital Group LLC	COM	674001201	429	9,200	SH		SOLE		0	0	9,200
Occidental Petroleum	COM	674599105	803	13,412	SH		SOLE		9,842	0	3,570
Old Republic International Cor	COM	680223104	250	12,781	SH		SOLE		0	0	12,781
Oneok Partners LP	COM	68268N103	2,769	54,210	SH		SOLE		45,570	0	8,640
Oracle Systems	COM	68389X105	23,025	459,224	SH		SOLE		427,304	0	31,920
Paccar Inc.	COM	693718108	294	4,450	SH		SOLE		4,450	0	0
Parker Hannifin Corp.	COM	701094104	3,539	22,142	SH		SOLE		500	0	21,642
Paychex Inc	COM	704326107	366	6,435	SH		SOLE		3,550	0	2,885
Paypal Hldgs Inc Com	COM	70450Y103	18,556	345,736	SH		SOLE		313,023	0	32,713
PepsiCo Inc.	COM	713448108	17,531	151,799	SH		SOLE		116,888	0	34,911
Pfizer, Inc.	COM	717081103	16,474	490,457	SH		SOLE		408,644	0	81,813
Philip Morris Intl	COM	718172109	15,495	131,927	SH		SOLE		101,648	0	30,279
Phillips 66	COM	718546104	1,206	14,590	SH		SOLE		9,405	0	5,185
Plains All American Pipeline L	COM	726503105	2,039	77,620	SH		SOLE		52,308	0	25,312
Polaris Industries Inc.	COM	731068102	346	3,748	SH		SOLE		100	0	3,648
Post Holdings, Inc.	COM	737446104	621	8,000	SH		SOLE		0	0	8,000
PPG Industries, Inc.	COM	693506107	706	6,418	SH		SOLE		5,086	0	1,332
Procter & Gamble Co.	COM	742718109	20,365	233,676	SH		SOLE		185,127	0	48,549
Profile technologies - NO No	COM	743164105	0	13,500	SH		SOLE		13,500	0	0
PS Business Parks Inc	COM	69360J107	643	4,854	SH		SOLE		4,854	0	0
Public Storage	COM	74460D109	6,685	32,060	SH		SOLE		30,076	0	1,984
Qualcomm, Inc	COM	747525103	14,231	257,722	SH		SOLE		207,792	0	49,930
Quanta Services, Inc.	COM	74762e102	560	17,000	SH		SOLE		0	0	17,000
Raytheon Company	COM	755111507	288	1,783	SH		SOLE		1,683	0	100
Realty Income Corp.	COM	756109104	1,511	27,378	SH		SOLE		25,078	0	2,300
Red Hat Inc.	COM	756577102	232	2,418	SH		SOLE		2,418	0	0
Reynolds American Inc.	COM	761713106	1,021	15,700	SH		SOLE		1,596	0	14,104
Roche Dividend Right Cert	COM	771192895	255	1,000	SH		SOLE		1,000	0	0
Roche Holdings Ltd-Spons ADR	COM	771195104	237	7,450	SH		SOLE		7,450	0	0
Rockwell Automation, Inc.	COM	773903109	505	3,120	SH		SOLE		2,920	0	200
Rockwell Collins	COM	774341101	433	4,124	SH		SOLE		3,924	0	200
Royal Caribbean Cruise	COM	V7780T103	286	2,620	SH		SOLE		2,620	0	0
Royal Dutch Shell PLC-ADR A	COM	780259206	1,093	20,552	SH		SOLE		19,531	0	1,021
S&P Global Inc	COM	78409V104	969	6,640	SH		SOLE		1,350	0	5,290
Schlumberger Ltd	COM	806857108	24,405	370,665	SH		SOLE		314,768	0	55,897
Sempra Energy	COM	816851109	766	6,794	SH		SOLE		5,974	0	820
Simpson Manufacturing Co	COM	829073105	1,071	24,493	SH		SOLE		24,493	0	0
Southern Company	COM	842587107	638	13,325	SH		SOLE		5,550	0	7,775
Stanley Black and Decker Corp.	COM	854502101	217	1,542	SH		SOLE		560	0	982
Starbucks Corp.	COM	855244109	719	12,328	SH		SOLE		11,362	0	966
Starwood Property Trust Inc. R	COM	85571b105	257	11,459	SH		SOLE		0	0	11,459
Stericycle, Inc.	COM	858912108	11,551	151,347	SH		SOLE		126,797	0	24,550
Stryker Corporation	COM	863667101	22,115	159,354	SH		SOLE		144,356	0	14,998
Sysco Corp.	COM	871829107	9,781	194,346	SH		SOLE		144,820	0	49,526
T. Rowe Price Group	COM	74144T108	224	3,020	SH		SOLE		3,020	0	0
Target Corp	COM	87612E106	5,079	97,134	SH		SOLE		85,672	0	11,462
Teva Pharmaceutical Industries	COM	881624209	7,619	229,354	SH		SOLE		201,469	0	27,885
Texas Instruments	COM	882508104	4,095	53,235	SH		SOLE		43,589	0	9,646
The Travelers Companies, Inc.	COM	89417E109	217	1,716	SH		SOLE		700	0	1,016
The Walt Disney Company	COM	254687106	13,914	130,958	SH		SOLE		110,782	0	20,176
Thermo Electron Corp.	COM	883556102	365	2,091	SH		SOLE		1,360	0	731
TJX Companies	COM	872540109	1,810	25,086	SH		SOLE		24,836	0	250
Torchmark Corp	COM	891027104	206	2,690	SH		SOLE		2,690	0	0
Toro Co.	COM	891092108	698	10,070	SH		SOLE		0	0	10,070
Tractor Supply Company	COM	892356106	8,129	149,950	SH		SOLE		133,375	0	16,575
Transocean Ltd.	COM	H8817H100	1,997	242,701	SH		SOLE		226,416	0	16,285
Tredegar Corporation	COM	894650100	244	16,000	SH		SOLE		16,000	0	0
U.S. Bancorp	COM	902973304	890	17,134	SH		SOLE		9,134	0	8,000
Unilever N V	COM	904784709	535	9,686	SH		SOLE		9,686	0	0
Union Pacific	COM	907818108	8,132	74,663	SH		SOLE		70,186	0	4,477
United Parcel Service	COM	911312106	51,171	462,708	SH		SOLE		441,638	0	21,070
United Technologies	COM	913017109	14,511	118,834	SH		SOLE		113,299	0	5,535
UnitedHealth Group Inc.	COM	91324P102	1,145	6,173	SH		SOLE		6,133	0	40
Valmont Industries Inc.	COM	920253101	763	5,100	SH		SOLE		5,100	0	0
Verizon Comm.	COM	92343V104	7,419	166,121	SH		SOLE		131,959	0	34,162
Visa Inc.	COM	92826C839	370	3,946	SH		SOLE		3,787	0	159
Vodafone Group PLC New	COM	92857w308	4,945	172,127	SH		SOLE		148,596	0	23,531
Wal-Mart Stores, Inc.	COM	931142103	10,045	132,728	SH		SOLE		112,426	0	20,302
Walgreens Boots Alliance Inc.	COM	931427108	10,753	137,309	SH		SOLE		123,091	0	14,218
Wec Energy Group Inc	COM	92939U106	898	14,626	SH		SOLE		3,564	0	11,062
Wells Fargo & Co.	COM	949746101	39,289	709,051	SH		SOLE		651,694	0	57,357
Weyerhaeuser Co.	COM	962166104	1,755	52,386	SH		SOLE		42,327	0	10,059
Whole Food Markets	COM	966837106	6,874	163,237	SH		SOLE		134,707	0	28,530
WisdomTree Investments Inc	COM	97717p104	215	21,176	SH		SOLE		0	0	21,176
Xilinx Inc	COM	983919101	248	3,860	SH		SOLE		225	0	3,635
Zimmer Biomet Hldgs Inc Com	COM	98956P102	419	3,262	SH		SOLE		2,402	0	860
Barclays Bank Plc Trg Pref Sec	AA	06743p665	176	20,000	SH		SOLE		20,000	0	0
Deutsche Enhanced Commodity St	AA	25159L836	735	66,528	SH		SOLE		66,528	0	0
Franklin K2 Alternative Strate	AA	35241W500	684	61,111	SH		SOLE		61,111	0	0
HSBC USA INC Trigger Perf Sec	AA	40434d806	496	40,000	SH		SOLE		40,000	0	0
iPath Dow Jones UBS Commodity	AA	06738C778	329	14,500	SH		SOLE		14,500	0	0
iShares Gold Trust	AA	464285105	213	17,860	SH		SOLE		17,860	0	0
Principal Global Multi-Strateg	AA	74255L696	680	60,430	SH		SOLE		60,430	0	0
Royal Bank of Canada PFD	AA	78011y215	197	20,000	SH		SOLE		20,000	0	0
SPDR Gold Trust	AA	78463V107	2,324	19,688	SH		SOLE		18,288	0	1,400
Sprott Physical Gold Trust ETV	AA	85207h104	213	21,000	SH		SOLE		21,000	0	0
Sprott Physical Silver Trust E	AA	85207k107	96	15,250	SH		SOLE		15,250	0	0