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
First Trust Low Duration Oppor	ETF	33739Q200	8,836	169,956	SH		SOLE		135,474	0	34,482
Flaherty & Crumrine Preferred	ETF	33848E106	153	12,500	SH		SOLE		12,500	0	0
Highland Income Fund ETF	ETF	43010E404	146	10,966	SH		SOLE		6,966	0	4,000
iShares iBoxx $ Inv Grade Corp	ETF	464287242	324	2,545	SH		SOLE		1,595	0	950
iShares S&P U.S. Preferred Sto	ETF	464288687	485	12,918	SH		SOLE		2,985	0	9,933
IShares Short-Term Corp Bond E	ETF	464288646	386	7,190	SH		SOLE		4,250	0	2,940
Nuveen Preferred & Income Secu	ETF	67072C105	189	19,166	SH		SOLE		19,166	0	0
PIMCO Enhanced Short Maturity	ETF	72201R833	2,031	19,962	SH		SOLE		16,927	0	3,035
PIMCO High Income Fund	ETF	722014107	344	44,500	SH		SOLE		44,500	0	0
Schwab U.S. TIPS ETF	ETF	808524870	739	13,020	SH		SOLE		13,020	0	0
SPDR DoubleLine Total Return T	ETF	78467V848	2,555	51,900	SH		SOLE		33,400	0	18,500
SPDR Wells Fargo Preferred Sto	ETF	78464A292	261	5,913	SH		SOLE		0	0	5,913
Vanguard Int Term Bond ETF	ETF	921937819	219	2,492	SH		SOLE		892	0	1,600
Vanguard Int Term Corp Bond ET	ETF	92206C870	295	3,231	SH		SOLE		1,756	0	1,475
Vanguard Short Term Bond ETF	ETF	921937827	575	7,116	SH		SOLE		5,071	0	2,045
Vanguard Short Term Corp Bond	ETF	92206C409	7,841	96,738	SH		SOLE		62,796	0	33,942
Vertical Capital Income Fund	ETF	92535C104	125	11,743	SH		SOLE		10,212	0	1,531
Western Asset Income Fund	ETF	95766T100	1,452	89,459	SH		SOLE		72,559	0	16,900
iShares MSCI EAFE Growth Index	ETF	464288885	238	2,951	SH		SOLE		2,951	0	0
iShares MSCI EAFE Index Fund	ETF	464287465	787	12,066	SH		SOLE		11,233	0	833
iShares MSCI Emerging Markets	ETF	464287234	1,114	27,251	SH		SOLE		25,992	0	1,259
Vanguard FTSE All World ex US	ETF	922042775	388	7,775	SH		SOLE		6,375	0	1,400
Vanguard FTSE Emerging Markets	ETF	922042858	400	9,935	SH		SOLE		9,935	0	0
Vanguard MSCI EAFE ETF	ETF	921943858	1,267	30,837	SH		SOLE		30,837	0	0
Health Care Select Sector SPDR	ETF	81369Y209	499	5,534	SH		SOLE		5,534	0	0
iShares Core S&P 500 ETF	ETF	464287200	2,188	7,329	SH		SOLE		7,329	0	0
iShares Core S&P Mid-Cap ETF	ETF	464287507	1,220	6,312	SH		SOLE		6,217	0	95
iShares Core S&P Small-Cap ETF	ETF	464287804	2,155	27,681	SH		SOLE		27,681	0	0
iShares Core S&P Total US Stoc	ETF	464287150	692	10,314	SH		SOLE		10,314	0	0
iShares DJ Select Dividend Ind	ETF	464287168	418	4,101	SH		SOLE		3,801	0	300
iShares DJ U.S. Technology Sec	ETF	464287721	1,031	5,050	SH		SOLE		5,050	0	0
iShares DJ US Housing	ETF	464288752	690	15,930	SH		SOLE		15,930	0	0
iShares Goldman Sachs Cons Svc	ETF	464287580	217	1,000	SH		SOLE		1,000	0	0
iShares North American Tech	ETF	464287549	619	2,850	SH		SOLE		2,600	0	250
iShares Russell 1000 Growth	ETF	464287614	212	1,330	SH		SOLE		1,330	0	0
iShares Russell 2000 Index	ETF	464287655	2,628	17,363	SH		SOLE		16,753	0	610
iShares S&P Midcap 400/Barra	ETF	464287705	242	1,514	SH		SOLE		1,514	0	0
iShares Tr Index Fd Russell 10	ETF	464287622	416	2,531	SH		SOLE		2,446	0	85
iShares Tr Russell 1000 Value	ETF	464287598	210	1,640	SH		SOLE		1,640	0	0
iShares Tr S&P 100	ETF	464287101	319	2,425	SH		SOLE		2,425	0	0
Kayne Anderson MLP Inv Com	ETF	486606106	357	24,700	SH		SOLE		24,700	0	0
PowerShares QQQ Trust Ser 1	ETF	46090E103	1,111	5,883	SH		SOLE		5,478	0	405
Schwab US Large-Cap Growth ETF	ETF	808524300	307	3,660	SH		SOLE		2,495	0	1,165
Select Sector SPDR Technology	ETF	81369Y803	2,957	36,715	SH		SOLE		36,715	0	0
Select Sector SPDR Utilities	ETF	81369Y886	382	5,900	SH		SOLE		5,900	0	0
SPDR Dow Jones Industrial Avg	ETF	78467X109	303	1,125	SH		SOLE		525	0	600
SPDR S&P 500 ETF	ETF	78462F103	4,605	15,517	SH		SOLE		14,622	0	895
SPDR S&P 600 Small Cap ETF	ETF	78464A813	202	3,000	SH		SOLE		3,000	0	0
SPDR S&P Dividend ETF	ETF	78464A763	456	4,448	SH		SOLE		3,348	0	1,100
SPDR S&P MidCap 400 ETF	ETF	78467Y107	873	2,476	SH		SOLE		2,346	0	130
Vanguard Dividend Apprec Fd	ETF	921908844	200	1,674	SH		SOLE		1,674	0	0
Vanguard High Dividend Yield I	ETF	921946406	319	3,592	SH		SOLE		3,592	0	0
Vanguard REIT ETF	ETF	922908553	1,867	20,016	SH		SOLE		19,906	0	110
Vanguard S&P 500 ETF	ETF	922908363	245	900	SH		SOLE		900	0	0
Vanguard Small Cap ETF	ETF	922908751	811	5,269	SH		SOLE		5,269	0	0
Vanguard Total Stock Market ET	ETF	922908769	488	3,232	SH		SOLE		3,232	0	0
Vanguard World Fds Inf Tech ET	ETF	92204A702	674	3,125	SH		SOLE		3,125	0	0
3M Company	COM	88579Y101	10,995	66,882	SH		SOLE		51,750	0	15,132
Abbott Labs	COM	002824100	23,676	282,967	SH		SOLE		244,023	0	38,944
AbbVie Inc.	COM	00287Y109	17,468	230,698	SH		SOLE		208,028	0	22,670
Accenture PLC	COM	G1151C101	43,204	224,609	SH		SOLE		202,407	0	22,202
Adobe Systems	COM	00724F101	602	2,179	SH		SOLE		1,979	0	200
Agilent Technologies Inc.	COM	00846U101	15,661	204,373	SH		SOLE		200,601	0	3,772
Akamai Technologies Inc.	COM	00971T101	6,059	66,310	SH		SOLE		51,510	0	14,800
Albemarle Corp.	COM	012653101	15,074	216,832	SH		SOLE		210,957	0	5,875
Alcon, Inc.	COM	H01301128	733	12,583	SH		SOLE		11,187	0	1,396
Alibaba Group Holding - SP ADR	COM	01609W102	854	5,105	SH		SOLE		5,102	0	3
Allegion Plc	COM	G0176J109	276	2,659	SH		SOLE		1,976	0	683
Allergan Inc	COM	G0177J108	6,235	37,050	SH		SOLE		30,825	0	6,225
Allstate Corp.	COM	020002101	418	3,844	SH		SOLE		3,844	0	0
Alphabet Inc Class A	COM	02079K305	26,633	21,810	SH		SOLE		20,545	0	1,265
Alphabet Inc Class C	COM	02079K107	10,624	8,715	SH		SOLE		7,810	0	905
Altria Group, Inc.	COM	02209S103	5,429	132,737	SH		SOLE		92,453	0	40,284
Amazon Com Inc	COM	023135106	14,024	8,079	SH		SOLE		7,802	0	277
Amcor PLC	COM	G0250X107	187	19,135	SH		SOLE		19,135	0	0
Ameren Corp.	COM	023608102	220	2,750	SH		SOLE		2,750	0	0
America Movil S.A. de C.V. Ser	COM	02364W105	223	15,010	SH		SOLE		15,010	0	0
American Elec Pwr Inc.	COM	025537101	370	3,952	SH		SOLE		2,326	0	1,626
American Express Co.	COM	025816109	7,740	65,439	SH		SOLE		58,314	0	7,125
American Wtr Wks Inc.	COM	030420103	1,158	9,321	SH		SOLE		200	0	9,121
Ameriprise Financial, Inc.	COM	03076C106	373	2,539	SH		SOLE		2,389	0	150
Amgen, Inc.	COM	031162100	10,821	55,922	SH		SOLE		42,467	0	13,455
ANSYS, Inc.	COM	03662Q105	321	1,450	SH		SOLE		1,450	0	0
Apache Corp	COM	037411105	2,042	79,766	SH		SOLE		68,393	0	11,373
Apple Inc.	COM	037833100	70,183	313,360	SH		SOLE		285,292	0	28,068
Aptevo Therapeutics Inc.	COM	03835L108	16	27,200	SH		SOLE		27,200	0	0
Arista Networks Inc.	COM	040413106	1,753	7,336	SH		SOLE		6,032	0	1,304
Arrowhead Pharmaceuticals Inc	COM	04280A100	538	19,108	SH		SOLE		19,108	0	0
Arthur J. Gallagher & Co.	COM	363576109	318	3,550	SH		SOLE		900	0	2,650
AT&T Inc.	COM	00206R102	8,167	215,823	SH		SOLE		191,536	0	24,287
Automatic Data Proc.	COM	053015103	10,715	66,377	SH		SOLE		49,119	0	17,258
Bank of America Corp	COM	060505104	1,536	52,665	SH		SOLE		52,155	0	510
Bank of New York Mellon Corp.	COM	064058100	16,874	373,229	SH		SOLE		345,737	0	27,491
Baxter International Inc	COM	071813109	1,217	13,917	SH		SOLE		12,947	0	970
Becton Dickinson & Co.	COM	075887109	4,382	17,323	SH		SOLE		12,138	0	5,185
Berkshire Hathaway (100=1 Clas	COM	084990175	2,183	700	SH		SOLE		700	0	0
Berkshire Hathaway A	COM	084670108	5,301	17	SH		SOLE		16	0	1
Berkshire Hathaway B	COM	084670702	49,184	236,438	SH		SOLE		210,891	0	25,547
Blackrock 2001	COM	09247X101	232	520	SH		SOLE		520	0	0
Blackstone Group Ord Shs Class	COM	09260D107	462	9,454	SH		SOLE		7,554	0	1,900
BlockRock Capital Investment C	COM	092533108	263	52,400	SH		SOLE		0	0	52,400
Boeing Co.	COM	097023105	30,310	79,665	SH		SOLE		74,475	0	5,190
BP PLC - Spons ADR	COM	055622104	7,576	199,414	SH		SOLE		162,395	0	37,019
Bristol-Myers Squibb Co.	COM	110122108	27,268	537,720	SH		SOLE		467,989	0	69,731
British American Tobacco PLC A	COM	110448107	333	9,027	SH		SOLE		1,627	0	7,400
Broadcom Ltd. Ordinary	COM	11135F101	495	1,792	SH		SOLE		1,672	0	120
Campbell Soup Co.	COM	134429109	422	9,003	SH		SOLE		9,003	0	0
Carmax, Inc.	COM	143130102	4,709	53,506	SH		SOLE		42,301	0	11,205
Casey's General Stores	COM	147528103	1,671	10,370	SH		SOLE		8,920	0	1,450
Caterpillar Inc.	COM	149123101	8,104	64,160	SH		SOLE		58,403	0	5,757
Cathay Intl Hld (London Exchan	COM	G1965E103	1	19,000	SH		SOLE		19,000	0	0
Celgene Corp	COM	151020104	226	2,280	SH		SOLE		2,255	0	25
Cerner	COM	156782104	11,083	162,572	SH		SOLE		134,007	0	28,565
Chevron Corp.	COM	166764100	30,792	259,632	SH		SOLE		220,709	0	38,923
Chubb LTD	COM	H1467J104	248	1,539	SH		SOLE		1,462	0	77
Cintas Corp.	COM	172908105	236	880	SH		SOLE		730	0	150
Cisco Systems, Inc.	COM	17275R102	20,937	423,739	SH		SOLE		373,538	0	50,201
Clorox Company	COM	189054109	2,601	17,129	SH		SOLE		12,260	0	4,869
CME Group Inc.	COM	12572Q105	598	2,831	SH		SOLE		370	0	2,461
Coca-Cola Company	COM	191216100	4,652	85,452	SH		SOLE		79,660	0	5,792
Colgate-Palmolive Co.	COM	194162103	23,754	323,137	SH		SOLE		300,975	0	22,162
Comcast Corp. Class A	COM	20030N101	775	17,202	SH		SOLE		15,778	0	1,424
Conagra Inc.	COM	205887102	622	20,266	SH		SOLE		20,266	0	0
ConocoPhillips	COM	20825C104	11,898	208,808	SH		SOLE		196,497	0	12,312
Consolidated Edison Inc.	COM	209115104	1,930	20,430	SH		SOLE		17,230	0	3,200
Corning Inc.	COM	219350105	274	9,600	SH		SOLE		9,600	0	0
Corteva, Inc.	COM	22052L104	7,270	259,632	SH		SOLE		232,048	0	27,584
Costco Wholesale Corp.	COM	22160K105	51,462	178,620	SH		SOLE		159,918	0	18,702
CSX Corporation	COM	126408103	889	12,829	SH		SOLE		12,829	0	0
Cummins Inc	COM	231021106	3,382	20,790	SH		SOLE		8,051	0	12,739
CVS Health Corp.	COM	126650100	226	3,584	SH		SOLE		2,884	0	700
Danaher Corp.	COM	235851102	273	1,887	SH		SOLE		1,752	0	135
DCP Midstream, LP	COM	23311P100	540	20,597	SH		SOLE		0	0	20,597
Deere & Co.	COM	244199105	1,365	8,090	SH		SOLE		7,690	0	400
Discovery Inc.	COM	25470F302	14,797	601,011	SH		SOLE		508,206	0	92,805
Dominion Resources Inc.	COM	25746U109	440	5,425	SH		SOLE		5,425	0	0
Dow Inc.	COM	260557103	1,903	39,938	SH		SOLE		30,845	0	9,093
DTE Energy Company	COM	233331107	359	2,700	SH		SOLE		2,700	0	0
Duke Energy Corp. New	COM	26441C204	721	7,522	SH		SOLE		2,170	0	5,352
DuPont De Nemours Inc.	COM	26614N102	11,284	158,242	SH		SOLE		133,389	0	24,853
DXC Technology Co	COM	23355L106	3,157	107,016	SH		SOLE		105,681	0	1,335
Eaton Corp. PLC	COM	G29183103	874	10,515	SH		SOLE		10,515	0	0
eBay Inc.	COM	278642103	8,633	221,460	SH		SOLE		179,147	0	42,313
Ecolab, Inc.	COM	278865100	2,558	12,918	SH		SOLE		11,993	0	925
Edgewell Personal Care Co	COM	28035Q102	6,150	189,287	SH		SOLE		189,287	0	0
Edison International	COM	281020107	526	6,975	SH		SOLE		6,975	0	0
Edwards Lifesciences Corp.	COM	28176E108	24,160	109,862	SH		SOLE		106,557	0	3,305
Electronic Arts	COM	285512109	306	3,125	SH		SOLE		3,125	0	0
Emerson Electric Co.	COM	291011104	26,172	391,442	SH		SOLE		322,479	0	68,963
Enbridge Inc.	COM	29250N105	433	12,346	SH		SOLE		8,565	0	3,781
Energizer Holdings Inc New	COM	29272W109	9,104	208,906	SH		SOLE		208,906	0	0
Energy Transfer LP	COM	29273V100	460	35,203	SH		SOLE		15,974	0	19,229
Enterprise Products Partners L	COM	293792107	1,882	65,843	SH		SOLE		25,929	0	39,914
Equity Residential	COM	29476L107	556	6,450	SH		SOLE		4,450	0	2,000
Essex Property Trust	COM	297178105	3,446	10,548	SH		SOLE		9,084	0	1,464
Eversource Energy	COM	30040W108	363	4,250	SH		SOLE		1,400	0	2,850
Exelon Corp	COM	30161N101	205	4,234	SH		SOLE		4,234	0	0
Expeditors Int'l Of Washington	COM	302130109	1,414	19,038	SH		SOLE		15,813	0	3,225
ExxonMobil Corporation	COM	30231G102	32,674	462,734	SH		SOLE		396,223	0	66,511
Facebook Inc	COM	30303M102	1,540	8,649	SH		SOLE		8,182	0	467
Farmers and Merchants Bank	COM	308243104	405	51	SH		SOLE		51	0	0
Fastenal Co.	COM	311900104	18,491	565,995	SH		SOLE		503,465	0	62,530
FirstEnergy Corp.	COM	337932107	224	4,650	SH		SOLE		4,650	0	0
Flex Ltd.	COM	Y2573F102	425	40,600	SH		SOLE		32,100	0	8,500
Ford Motor Co.	COM	345370860	130	14,142	SH		SOLE		3,820	0	10,322
Fox Corporation	COM	35137L105	215	6,816	SH		SOLE		6,684	0	132
Franklin Resources Inc	COM	354613101	2,554	88,491	SH		SOLE		75,446	0	13,045
Gap Inc. Del	COM	364760108	2,250	129,593	SH		SOLE		109,483	0	20,110
GC International, Inc.	COM	361559107	9	77,500	SH		SOLE		77,500	0	0
General Electric	COM	369604103	8,181	915,077	SH		SOLE		804,168	0	110,909
General Mills Inc.	COM	370334104	5,064	91,867	SH		SOLE		64,191	0	27,676
Genuine Parts Co.	COM	372460105	398	4,000	SH		SOLE		4,000	0	0
Gilead Sciences Inc	COM	375558103	6,616	104,391	SH		SOLE		83,708	0	20,683
GlaxoSmithKline PLC-ADR	COM	37733W105	207	4,860	SH		SOLE		4,255	0	605
Globe Life Inc.	COM	37959E102	224	2,340	SH		SOLE		2,340	0	0
Goldman Sachs Group Inc.	COM	38141G104	5,090	24,564	SH		SOLE		23,013	0	1,551
Grainger Inc., W.W.	COM	384802104	326	1,098	SH		SOLE		478	0	620
Harris Technologies Inc.	COM	502431109	273	1,309	SH		SOLE		854	0	455
Hewlett Packard Enterprise Co	COM	42824C109	18,202	1,199,874	SH		SOLE		1,185,530	0	14,344
Home Depot, Inc.	COM	437076102	11,049	47,623	SH		SOLE		37,116	0	10,507
Honeywell Int'l Inc.	COM	438516106	12,582	74,359	SH		SOLE		73,609	0	750
HP Inc.	COM	40434L105	23,317	1,232,419	SH		SOLE		1,216,146	0	16,273
ICON Public Limited Company	COM	G4705A100	295	2,000	SH		SOLE		2,000	0	0
Illinois Tool Works Inc.	COM	452308109	6,591	42,120	SH		SOLE		37,210	0	4,910
Ingersoll-Rand PLC	COM	G47791101	1,942	15,758	SH		SOLE		13,068	0	2,690
Intel Corp.	COM	458140100	31,538	612,026	SH		SOLE		557,240	0	54,787
Intercontinental Exchange	COM	45866F104	268	2,900	SH		SOLE		2,900	0	0
International Bus Mach	COM	459200101	17,958	123,491	SH		SOLE		96,970	0	26,522
Intuit Inc.	COM	461202103	14,741	55,431	SH		SOLE		50,004	0	5,427
Intuitive Surgical Inc.	COM	46120E602	519	961	SH		SOLE		961	0	0
Jacobs Engineering Group Inc.	COM	469814107	8,370	91,474	SH		SOLE		82,108	0	9,366
Johnson & Johnson	COM	478160104	38,334	296,291	SH		SOLE		250,062	0	46,229
Johnson Controls International	COM	G51502105	13,599	309,845	SH		SOLE		249,758	0	60,086
JPMorgan Chase & Co.	COM	46625H100	26,465	224,873	SH		SOLE		189,042	0	35,831
Kellogg Co.	COM	487836108	974	15,130	SH		SOLE		2,050	0	13,080
Keysight Technologies, Inc.	COM	49338L103	9,211	94,718	SH		SOLE		93,299	0	1,419
Kimberly-Clark Corp.	COM	494368103	1,714	12,066	SH		SOLE		11,748	0	318
Kraft Heinz Co Com	COM	500754106	762	27,276	SH		SOLE		24,268	0	3,008
Laboratory Corp. of America	COM	50540R409	7,490	44,582	SH		SOLE		41,447	0	3,135
Lamb Weston Holdings, Inc	COM	513272104	404	5,549	SH		SOLE		5,549	0	0
Las Vegas Sands	COM	517834107	476	8,237	SH		SOLE		5,937	0	2,300
Life Storage Inc.	COM	53223X107	322	3,050	SH		SOLE		3,050	0	0
Lilly Eli & Co.	COM	532457108	584	5,219	SH		SOLE		1,649	0	3,570
Lincoln National Corp.	COM	534187109	479	7,943	SH		SOLE		7,650	0	293
Linde Public Limited Company	COM	186297610	216	1,114	SH		SOLE		950	0	164
Lockheed Martin Corp.	COM	539830109	6,232	15,976	SH		SOLE		15,976	0	0
Lowe's Companies	COM	548661107	31,846	289,619	SH		SOLE		256,161	0	33,458
Magellan Midstream Partners	COM	559080106	2,538	38,304	SH		SOLE		32,404	0	5,900
Marriott Int'l, Inc.	COM	571903202	264	2,122	SH		SOLE		2,122	0	0
Marsh & McLennan Companies	COM	571748102	1,617	16,162	SH		SOLE		3,330	0	12,832
Mastercard Inc-Cl A	COM	57636Q104	279	1,028	SH		SOLE		1,028	0	0
McCormick & Co	COM	579780206	703	4,500	SH		SOLE		4,500	0	0
McDonald's Corp.	COM	580135101	22,743	105,924	SH		SOLE		88,107	0	17,817
McKesson Corp.	COM	58155Q103	10,410	76,173	SH		SOLE		70,873	0	5,300
Medtronic Plc.	COM	G5960L103	1,785	16,431	SH		SOLE		13,162	0	3,269
Merck & Co., Inc. New	COM	58933Y105	7,616	90,478	SH		SOLE		80,403	0	10,075
Mercury General Ins	COM	589400100	201	3,600	SH		SOLE		3,100	0	500
Meredith Corp.	COM	589433101	501	13,675	SH		SOLE		2,400	0	11,275
Microsoft Corp.	COM	594918104	56,145	403,833	SH		SOLE		329,536	0	74,296
Minerals Technologies Inc.	COM	603158106	586	11,032	SH		SOLE		9,932	0	1,100
Mondelez International	COM	609207105	14,200	256,688	SH		SOLE		223,747	0	32,940
Monster Beverage Corp.	COM	611740101	267	4,603	SH		SOLE		4,603	0	0
Moody's Corporation	COM	615369105	301	1,470	SH		SOLE		1,470	0	0
Nestle Sponsored ADR	COM	641069406	1,310	12,089	SH		SOLE		9,871	0	2,218
Netapp, Inc	COM	64110D104	953	18,150	SH		SOLE		17,550	0	600
Netflix	COM	64110L106	223	835	SH		SOLE		835	0	0
NewMarket Corp	COM	651587107	3,777	8,000	SH		SOLE		8,000	0	0
NextEra Energy Inc.	COM	65339F101	1,903	8,169	SH		SOLE		8,169	0	0
Nike, Inc.	COM	654106103	22,042	234,685	SH		SOLE		183,305	0	51,380
Nordstrom Inc.	COM	655664100	14,566	432,606	SH		SOLE		377,759	0	54,847
Norfolk Southern Corp.	COM	655844108	1,348	7,501	SH		SOLE		5,200	0	2,301
Northrop Grumman Corp.	COM	666807102	8,944	23,863	SH		SOLE		23,863	0	0
Novartis AG ADS	COM	66987V109	10,028	115,402	SH		SOLE		106,383	0	9,019
Novo Nordisk ADR	COM	670100205	7,256	140,348	SH		SOLE		130,188	0	10,160
Nucor Corp.	COM	670346105	1,499	29,444	SH		SOLE		26,577	0	2,867
Oaktree Capital Group LLC - Ac	COM	674001201	474	9,200	SH		SOLE		0	0	9,200
Occidental Petroleum	COM	674599105	3,867	86,958	SH		SOLE		67,996	0	18,962
Old Republic International Cor	COM	680223104	301	12,781	SH		SOLE		0	0	12,781
Oneok Inc	COM	682680103	3,524	47,823	SH		SOLE		40,485	0	7,338
Oracle Systems	COM	68389X105	23,504	427,120	SH		SOLE		393,989	0	33,131
Parker Hannifin Corp.	COM	701094104	4,880	27,017	SH		SOLE		5,375	0	21,642
Paychex Inc	COM	704326107	545	6,580	SH		SOLE		3,550	0	3,030
Paypal Hldgs Inc Com	COM	70450Y103	27,128	261,881	SH		SOLE		235,361	0	26,520
PepsiCo Inc.	COM	713448108	18,568	135,432	SH		SOLE		106,329	0	29,103
Perspecta Inc.	COM	715347100	1,304	49,934	SH		SOLE		49,505	0	429
Pfizer, Inc.	COM	717081103	16,697	464,698	SH		SOLE		419,577	0	45,121
Philip Morris Intl	COM	718172109	9,504	125,164	SH		SOLE		99,464	0	25,700
Phillips 66	COM	718546104	2,059	20,108	SH		SOLE		16,228	0	3,880
Plains All American Pipeline L	COM	726503105	1,571	75,731	SH		SOLE		48,573	0	27,158
Polaris Industries Inc.	COM	731068102	341	3,870	SH		SOLE		100	0	3,770
Post Holdings, Inc.	COM	737446104	3,893	36,786	SH		SOLE		28,786	0	8,000
PPG Industries, Inc.	COM	693506107	602	5,077	SH		SOLE		3,745	0	1,332
Procter & Gamble Co.	COM	742718109	28,150	226,325	SH		SOLE		189,126	0	37,199
Profile technologies - NO No	COM	743164105	0	13,500	SH		SOLE		13,500	0	0
PS Business Parks Inc	COM	69360J107	883	4,854	SH		SOLE		4,854	0	0
Public Storage	COM	74460D109	6,993	28,510	SH		SOLE		26,376	0	2,134
Qualcomm, Inc	COM	747525103	21,314	279,414	SH		SOLE		222,234	0	57,180
Quanta Services, Inc.	COM	74762E102	643	17,000	SH		SOLE		0	0	17,000
Raytheon Company	COM	755111507	319	1,624	SH		SOLE		1,524	0	100
Realty Income Corp.	COM	756109104	1,680	21,913	SH		SOLE		20,813	0	1,100
Resideo Technologies, Inc.	COM	76118Y104	209	14,595	SH		SOLE		14,495	0	100
Roche Dividend Right Cert	COM	771192895	291	1,000	SH		SOLE		1,000	0	0
Roche Holdings Ltd-Spons ADR	COM	771195104	226	6,200	SH		SOLE		6,200	0	0
Rockwell Automation, Inc.	COM	773903109	346	2,100	SH		SOLE		2,100	0	0
Royal Caribbean Cruise	COM	V7780T103	217	2,000	SH		SOLE		2,000	0	0
Royal Dutch Shell PLC-ADR A	COM	780259206	1,065	18,102	SH		SOLE		17,402	0	700
S&P Global Inc	COM	78409V104	519	2,120	SH		SOLE		1,630	0	490
Sanofi-Aventis ADR	COM	80105N105	371	8,000	SH		SOLE		8,000	0	0
Schlumberger Ltd	COM	806857108	15,143	443,152	SH		SOLE		385,144	0	58,008
Sempra Energy	COM	816851109	1,037	7,024	SH		SOLE		5,124	0	1,900
Simpson Manufacturing Co	COM	829073105	1,631	23,506	SH		SOLE		23,506	0	0
Southern Company	COM	842587107	926	14,991	SH		SOLE		7,716	0	7,275
Starbucks Corp.	COM	855244109	2,501	28,287	SH		SOLE		22,713	0	5,574
Starwood Property Trust Inc. R	COM	85571B105	291	12,032	SH		SOLE		0	0	12,032
Stericycle, Inc.	COM	858912108	5,539	108,751	SH		SOLE		96,954	0	11,797
Stryker Corporation	COM	863667101	29,423	136,027	SH		SOLE		122,234	0	13,793
Sysco Corp.	COM	871829107	14,981	188,680	SH		SOLE		146,934	0	41,746
T. Rowe Price Group	COM	74144T108	345	3,020	SH		SOLE		3,020	0	0
Tapestry Inc.	COM	876030107	11,167	428,680	SH		SOLE		384,704	0	43,976
Target Corp	COM	87612E106	6,074	56,810	SH		SOLE		49,577	0	7,233
Teva Pharmaceutical Industries	COM	881624209	102	14,820	SH		SOLE		14,420	0	400
Texas Instruments	COM	882508104	6,165	47,702	SH		SOLE		38,987	0	8,715
The Charles Schwab Corporation	COM	808513105	597	14,277	SH		SOLE		14,277	0	0
The Walt Disney Company	COM	254687106	29,005	222,564	SH		SOLE		193,135	0	29,429
Thermo Electron Corp.	COM	883556102	501	1,719	SH		SOLE		1,359	0	360
TJX Companies	COM	872540109	2,831	50,786	SH		SOLE		48,908	0	1,878
Toro Co.	COM	891092108	752	10,255	SH		SOLE		0	0	10,255
Tractor Supply Company	COM	892356106	19,740	218,264	SH		SOLE		191,316	0	26,947
Transocean Ltd.	COM	H8817H100	1,156	258,519	SH		SOLE		234,863	0	23,656
Tredegar Corporation	COM	894650100	312	16,000	SH		SOLE		16,000	0	0
Two Rivers Water & Farming Co.	COM	90207B107	2	12,000	SH		SOLE		12,000	0	0
U.S. Bancorp	COM	902973304	978	17,674	SH		SOLE		13,674	0	4,000
Unilever N V	COM	904784709	572	9,521	SH		SOLE		9,521	0	0
Union Pacific	COM	907818108	10,865	67,077	SH		SOLE		63,195	0	3,882
United Parcel Service	COM	911312106	63,389	529,035	SH		SOLE		502,052	0	26,983
United Technologies	COM	913017109	19,631	143,794	SH		SOLE		136,923	0	6,871
UnitedHealth Group Inc.	COM	91324P102	6,491	29,869	SH		SOLE		29,104	0	765
Vereit, Inc REIT	COM	92339v100	119	12,200	SH		SOLE		0	0	12,200
Verizon Comm.	COM	92343V104	11,899	197,127	SH		SOLE		164,559	0	32,568
Visa Inc.	COM	92826C839	823	4,786	SH		SOLE		4,204	0	581
Vodafone Group PLC New	COM	92857W308	6,156	309,207	SH		SOLE		285,749	0	23,458
Wal-Mart Stores, Inc.	COM	931142103	10,697	90,137	SH		SOLE		80,979	0	9,158
Walgreens Boots Alliance Inc.	COM	931427108	13,654	246,860	SH		SOLE		206,592	0	40,268
Waste Management Inc.	COM	94106L109	227	1,977	SH		SOLE		1,802	0	175
Wec Energy Group Inc	COM	92939U106	1,006	10,576	SH		SOLE		564	0	10,012
Wells Fargo & Co.	COM	949746101	40,895	810,757	SH		SOLE		752,108	0	58,649
Weyerhaeuser Co.	COM	962166104	3,431	123,847	SH		SOLE		123,847	0	0
WisdomTree Investments Inc	COM	97717P104	114	21,806	SH		SOLE		0	0	21,806
Xilinx Inc	COM	983919101	357	3,725	SH		SOLE		225	0	3,500
Zimmer Biomet Hldgs Inc Com	COM	98956P102	847	6,172	SH		SOLE		5,672	0	500
iPath Dow Jones UBS Commodity	AA	06738C778	316	14,500	SH		SOLE		14,500	0	0
iShares Gold Trust	AA	464285105	252	17,860	SH		SOLE		17,860	0	0
SPDR Gold Trust	AA	78463V107	3,228	23,246	SH		SOLE		21,846	0	1,400
Sprott Physical Gold Trust ETV	AA	85207H104	248	21,000	SH		SOLE		21,000	0	0