Douglas Lane & Associates 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
3-D SYSTEMS CORP NEW	COMMON	88554D205	289	21,775	SH		SOLE		0	0	21,775
3M CO	COMMON	88579Y101	5,168	28,938	SH		SOLE		0	0	28,938
ABBOTT LABORATORIES	COMMON	002824100	1,759	45,805	SH		SOLE		0	0	45,805
ABBVIE INC	COMMON	00287Y109	1,210	19,329	SH		SOLE		0	0	19,329
ACCENTURE PLC IRELAND SHS CLAS	COMMON	G1151C101	19,448	166,041	SH		SOLE		7,800	0	158,241
ADOBE SYSTEMS, INC	COMMON	00724F101	7,082	68,793	SH		SOLE		0	0	68,793
ADVISORY BOARD CO	COMMON	00762W107	20,374	612,759	SH		SOLE		57,200	0	555,559
AIR LEASE CORP CL A	COMMON	00912X302	66,705	1,943,059	SH		SOLE		105,000	0	1,838,059
AIR PRODUCTS & CHEMICALS INC	COMMON	009158106	13,807	96,004	SH		SOLE		2,000	0	94,004
ALCOA CORP	COMMON	013872106	18,501	658,856	SH		SOLE		24,999	0	633,857
ALPHABET INC CAP STK CL A	COMMON	02079K305	32,001	40,382	SH		SOLE		2,900	0	37,482
ALPHABET INC CAP STK CL C	COMMON	02079K107	51,520	66,751	SH		SOLE		3,683	0	63,068
ALTRIA GROUP INC	COMMON	02209S103	1,144	16,921	SH		SOLE		0	0	16,921
AMAZON.COM INC	COMMON	023135106	1,054	1,406	SH		SOLE		0	0	1,406
AMERICAN AIRLINES GROUP INC	COMMON	02376R102	21,712	465,014	SH		SOLE		51,000	0	414,014
AMERICAN EXPRESS CO	COMMON	025816109	54,373	733,972	SH		SOLE		38,000	0	695,972
AMERICAN INTL GROUP NEW	COMMON	026874784	4,512	69,090	SH		SOLE		0	0	69,090
AMERICAN TOWER CORP REIT	COMMON	03027X100	16,574	156,836	SH		SOLE		7,500	0	149,336
AMGEN, INC	COMMON	031162100	45,415	310,618	SH		SOLE		15,500	0	295,118
ANADARKO PETROLEUM CORP	COMMON	032511107	233	3,340	SH		SOLE		0	0	3,340
ANTHRACITE CAP INC	COMMON	037023108	0	13,772	SH		SOLE		0	0	13,772
APACHE CORP	COMMON	037411105	1,360	21,432	SH		SOLE		0	0	21,432
APPLE INC	COMMON	037833100	8,889	76,745	SH		SOLE		0	0	76,745
ARCONIC INC	COMMON	03965L100	42,447	2,289,461	SH		SOLE		103,499	0	2,185,962
AT&T INC	COMMON	00206R102	1,411	33,171	SH		SOLE		0	0	33,171
AUTOMATIC DATA PROCESSING	COMMON	053015103	2,518	24,495	SH		SOLE		0	0	24,495
AVALONBAY COMMUNITIES INC	COMMON	053484101	2,318	13,083	SH		SOLE		0	0	13,083
BANK OF AMERICA CORP	COMMON	060505104	545	24,651	SH		SOLE		0	0	24,651
BANK OF NEW YORK MELLON CORP	COMMON	064058100	213	4,487	SH		SOLE		0	0	4,487
BANKUNITED INC	COMMON	06652K103	62,362	1,654,600	SH		SOLE		86,750	0	1,567,850
BB&T CORP	COMMON	054937107	54,365	1,156,201	SH		SOLE		23,500	0	1,132,701
BECTON DICKINSON & CO	COMMON	075887109	427	2,581	SH		SOLE		0	0	2,581
BERKSHIRE HATHAWAY INC CL B NE	COMMON	084670702	1,715	10,521	SH		SOLE		0	0	10,521
BIOGEN INC	COMMON	09062X103	284	1,001	SH		SOLE		0	0	1,001
BLACKSTONE GROUP L P UNIT LTD	COMMON	09253U108	29,919	1,106,876	SH		SOLE		80,750	0	1,026,126
BOEING CO	COMMON	097023105	555	3,566	SH		SOLE		0	0	3,566
BORG WARNER INC	COMMON	099724106	66,355	1,682,437	SH		SOLE		66,700	0	1,615,737
BRISTOL-MYERS SQUIBB CO	COMMON	110122108	22,493	384,887	SH		SOLE		0	0	384,887
CAMBRIDGE HEART INC	COMMON	131910101	0	302,350	SH		SOLE		0	0	302,350
CATERPILLAR INC	COMMON	149123101	878	9,469	SH		SOLE		0	0	9,469
CELGENE CORP	COMMON	151020104	44,051	380,574	SH		SOLE		33,400	0	347,174
CERNER CORP	COMMON	156782104	54,039	1,140,790	SH		SOLE		52,000	0	1,088,790
CHARLES SCHWAB CORP NEW	COMMON	808513105	4,560	115,541	SH		SOLE		1,000	0	114,541
CHEVRON CORP NEW	COMMON	166764100	7,920	67,289	SH		SOLE		0	0	67,289
CHIPOTLE MEXICAN GRILL CL A	COMMON	169656105	494	1,308	SH		SOLE		0	0	1,308
CHUBB LIMITED	COMMON	H1467J104	548	4,149	SH		SOLE		0	0	4,149
CISCO SYSTEMS INC	COMMON	17275R102	65,148	2,155,777	SH		SOLE		104,210	0	2,051,567
CITIGROUP INC NEW	COMMON	172967424	539	9,070	SH		SOLE		0	0	9,070
COCA-COLA CO	COMMON	191216100	3,419	82,473	SH		SOLE		0	0	82,473
COLGATE PALMOLIVE CO	COMMON	194162103	9,675	147,843	SH		SOLE		0	0	147,843
COMCAST CORP CL A	COMMON	20030N101	20,658	299,178	SH		SOLE		37,290	0	261,888
CORE LABORATORIES N V	COMMON	N22717107	5,680	47,319	SH		SOLE		8,000	0	39,319
CORNING INC	COMMON	219350105	37,179	1,531,889	SH		SOLE		12,000	0	1,519,889
COSTCO WHOLESALE CORP NEW	COMMON	22160K105	871	5,438	SH		SOLE		0	0	5,438
CVS HEALTH CORP	COMMON	126650100	327	4,144	SH		SOLE		0	0	4,144
DANAHER CORP DEL	COMMON	235851102	42,509	546,107	SH		SOLE		40,000	0	506,107
DANONE SPONSORED ADR	COMMON	23636T100	2,573	202,606	SH		SOLE		0	0	202,606
DELPHI AUTOMOTIVE PLC SHS	COMMON	G27823106	60,191	893,709	SH		SOLE		46,900	0	846,809
DELTA AIR LINES, INC	COMMON	247361702	105,448	2,143,689	SH		SOLE		107,500	0	2,036,189
DENTSPLY SIRONA INC	COMMON	24906P109	30,813	533,749	SH		SOLE		10,000	0	523,749
DIAGEO PLC ADR	COMMON	25243Q205	49,039	471,803	SH		SOLE		24,400	0	447,403
DIGITALGLOBE INC NEW	COMMON	25389M877	49,563	1,729,961	SH		SOLE		99,500	0	1,630,461
DISCOVERY COMMUNICATIONS NEW S	COMMON	25470F104	1,000	36,494	SH		SOLE		0	0	36,494
DISCOVERY COMMUNICATIONS NEW S	COMMON	25470F302	21,155	789,964	SH		SOLE		60,000	0	729,964
DISNEY (WALT) CO	COMMON	254687106	9,277	89,014	SH		SOLE		0	0	89,014
DOMINION RESOURCES INC	COMMON	25746U109	255	3,323	SH		SOLE		0	0	3,323
DOW CHEMICAL CO	COMMON	260543103	963	16,828	SH		SOLE		0	0	16,828
DUNKIN BRANDS GROUP INC	COMMON	265504100	1,037	19,775	SH		SOLE		0	0	19,775
EATON CORP PLC SHS	COMMON	G29183103	8,046	119,936	SH		SOLE		0	0	119,936
EBAY INC	COMMON	278642103	4,258	143,415	SH		SOLE		0	0	143,415
ECOLAB INC	COMMON	278865100	25,433	216,971	SH		SOLE		7,000	0	209,971
EMERSON ELECTRIC CO	COMMON	291011104	748	13,425	SH		SOLE		0	0	13,425
ENTERPRISE PRODUCTS PARTNERS	COMMON	293792107	301	11,133	SH		SOLE		0	0	11,133
ENVISION HEALTHCARE CO	COMMON	29414D100	216	3,413	SH		SOLE		0	0	3,413
EQUINIX INC	COMMON	29444U700	58,906	164,813	SH		SOLE		13,039	0	151,774
EXPEDIA INC NEW	COMMON	30212P303	20,500	180,967	SH		SOLE		6,400	0	174,567
EXPEDITORS INTL OF WASHINGTON	COMMON	302130109	12,675	239,337	SH		SOLE		0	0	239,337
EXXON MOBIL CORP	COMMON	30231G102	5,240	58,054	SH		SOLE		0	0	58,054
FACEBOOK INC CL A	COMMON	30303M102	22,118	192,251	SH		SOLE		8,250	0	184,001
FASTENAL CO	COMMON	311900104	7,892	167,991	SH		SOLE		0	0	167,991
FEDEX CORP	COMMON	31428X106	4,520	24,274	SH		SOLE		0	0	24,274
FIRST REPUBLIC BANK, INC	COMMON	33616C100	31,642	343,416	SH		SOLE		30,000	0	313,416
FORD MOTOR CO	COMMON	345370860	45,547	3,754,930	SH		SOLE		58,000	0	3,696,930
FORTIVE CORP	COMMON	34959J108	21,568	402,168	SH		SOLE		35,200	0	366,968
FORTUNE BRANDS HOME & SECURITY	COMMON	34964C106	23,099	432,086	SH		SOLE		11,300	0	420,786
FULTON FINANCIAL CORP PA	COMMON	360271100	226	12,000	SH		SOLE		0	0	12,000
GANNETT CO INC (NEW)	COMMON	36473H104	573	59,020	SH		SOLE		0	0	59,020
GENERAL ELECTRIC CO	COMMON	369604103	45,515	1,440,334	SH		SOLE		2,000	0	1,438,334
GENERAL MOTORS CO	COMMON	37045V100	79,992	2,295,973	SH		SOLE		91,000	0	2,204,973
GILEAD SCIENCES INC	COMMON	375558103	728	10,163	SH		SOLE		0	0	10,163
HAIN CELESTIAL GROUP INC	COMMON	405217100	1,672	42,840	SH		SOLE		0	0	42,840
HARMAN INTERNATIONAL INDS INC	COMMON	413086109	69,884	628,677	SH		SOLE		30,600	0	598,077
HARTCOURT COMPANIES INC NEW	COMMON	416187201	0	10,000	SH		SOLE		0	0	10,000
HOLLYFRONTIER CORP	COMMON	436106108	49,991	1,525,987	SH		SOLE		74,000	0	1,451,987
HOME DEPOT INC	COMMON	437076102	1,095	8,166	SH		SOLE		0	0	8,166
HONEYWELL INTL INC	COMMON	438516106	29,050	250,757	SH		SOLE		19,500	0	231,257
HP INC	COMMON	40434L105	10,700	721,005	SH		SOLE		17,000	0	704,005
HUBBELL INC	COMMON	443510607	737	6,313	SH		SOLE		0	0	6,313
HUDSONS BAY CO NEW	COMMON	444218101	45,033	4,601,131	SH		SOLE		159,500	0	4,441,631
IAC INTERACTIVECORP	COMMON	44919P508	30,062	463,984	SH		SOLE		11,900	0	452,084
IHS MARKIT LTD SHS	COMMON	G47567105	610	17,222	SH		SOLE		0	0	17,222
ILLINOIS TOOL WORKS INC	COMMON	452308109	19,737	161,168	SH		SOLE		2,500	0	158,668
ILLUMINA INC	COMMON	452327109	62,380	487,190	SH		SOLE		20,900	0	466,290
INTEL CORP	COMMON	458140100	33,755	930,662	SH		SOLE		17,510	0	913,152
INTERNATIONAL BUSINESS MACHINE	COMMON	459200101	9,026	54,377	SH		SOLE		0	0	54,377
ISTAR INC	COMMON	45031U101	2,300	185,900	SH		SOLE		0	0	185,900
JOHNSON & JOHNSON	COMMON	478160104	9,019	78,284	SH		SOLE		0	0	78,284
JPMORGAN CHASE & CO	COMMON	46625H100	43,896	508,699	SH		SOLE		13,000	0	495,699
KANSAS CITY SOUTHERN NEW	COMMON	485170302	6,475	76,314	SH		SOLE		0	0	76,314
KIMBERLY CLARK CORP	COMMON	494368103	415	3,640	SH		SOLE		0	0	3,640
KRAFT HEINZ CO	COMMON	500754106	327	3,749	SH		SOLE		0	0	3,749
L BRANDS INC	COMMON	501797104	11,995	182,186	SH		SOLE		5,500	0	176,686
LAMAR ADVERTISING CO NEW CL A	COMMON	512816109	1,979	29,425	SH		SOLE		0	0	29,425
LAUDER ESTEE COS INC CL A	COMMON	518439104	5,289	69,149	SH		SOLE		9,000	0	60,149
LEVEL 3 COMMUNICATIONS NEW	COMMON	52729N308	10,516	186,580	SH		SOLE		0	0	186,580
LILLY ELI & CO	COMMON	532457108	534	7,263	SH		SOLE		0	0	7,263
LINEAR TECHNOLOGY CORP	COMMON	535678106	234	3,750	SH		SOLE		0	0	3,750
LOWES COS INC	COMMON	548661107	218	3,069	SH		SOLE		0	0	3,069
LUXOTTICA GROUP S P A SPON ADR	COMMON	55068R202	3,070	57,170	SH		SOLE		0	0	57,170
MACYS INC	COMMON	55616P104	37,276	1,040,943	SH		SOLE		65,200	0	975,743
MAGELLAN MIDSTREAM PARTNERS LP	COMMON	559080106	210	2,780	SH		SOLE		0	0	2,780
MANHATTAN ASSOCIATES INC	COMMON	562750109	34,318	647,136	SH		SOLE		52,800	0	594,336
MARATHON PETROLEUM CORP	COMMON	56585A102	41,749	829,168	SH		SOLE		51,800	0	777,368
MARSH & MCLENNAN COMPANIES, IN	COMMON	571748102	372	5,509	SH		SOLE		0	0	5,509
MARTIN MARIETTA MATERIALS INC	COMMON	573284106	886	3,998	SH		SOLE		0	0	3,998
MASCO CORP	COMMON	574599106	26,101	825,446	SH		SOLE		9,300	0	816,146
MASTERCARD INC CL A	COMMON	57636Q104	59,338	574,697	SH		SOLE		40,100	0	534,597
MCCORMICK & CO INC	COMMON	579780206	1,333	14,280	SH		SOLE		0	0	14,280
MCDONALD'S CORP	COMMON	580135101	407	3,341	SH		SOLE		0	0	3,341
MERCK & CO INC NEW	COMMON	58933Y105	26,941	457,629	SH		SOLE		12,000	0	445,629
METLIFE INC	COMMON	59156R108	73,827	1,369,960	SH		SOLE		60,000	0	1,309,960
MICROCHIP TECHNOLOGY INC	COMMON	595017104	1,369	21,340	SH		SOLE		0	0	21,340
MICROSOFT CORP	COMMON	594918104	74,647	1,201,271	SH		SOLE		62,300	0	1,138,971
MONDELEZ INTL INC CL A	COMMON	609207105	2,135	48,160	SH		SOLE		0	0	48,160
MONSTER BEVERAGE CORP	COMMON	61174X109	271	6,105	SH		SOLE		0	0	6,105
NCR CORP	COMMON	62886E108	757	18,660	SH		SOLE		0	0	18,660
NESTLE S A SPON ADR	COMMON	641069406	45,915	638,821	SH		SOLE		30,500	0	608,321
NIELSEN HOLDINGS PLC	COMMON	G6518L108	13,350	318,233	SH		SOLE		20,000	0	298,233
NIKE INC CL B	COMMON	654106103	374	7,359	SH		SOLE		0	0	7,359
NORDSTROM, INC	COMMON	655664100	21,096	440,132	SH		SOLE		9,100	0	431,032
NOVARTIS A G SPON ADR	COMMON	66987V109	31,534	432,918	SH		SOLE		16,500	0	416,418
NOVO-NORDISK A S ADR	COMMON	670100205	2,453	68,403	SH		SOLE		0	0	68,403
NVIDIA CORP	COMMON	67066G104	39,170	366,970	SH		SOLE		50,000	0	316,970
ORACLE CORP	COMMON	68389X105	436	11,336	SH		SOLE		0	0	11,336
PAYCHEX INC	COMMON	704326107	389	6,385	SH		SOLE		0	0	6,385
PAYPAL HOLDINGS INC	COMMON	70450Y103	18,910	479,109	SH		SOLE		15,200	0	463,909
PENTAIR PLC SHS	COMMON	G7S00T104	331	5,895	SH		SOLE		0	0	5,895
PEPSICO INC	COMMON	713448108	23,889	228,323	SH		SOLE		600	0	227,723
PERRIGO CO PCL SHS	COMMON	G97822103	1,418	17,041	SH		SOLE		0	0	17,041
PFIZER INC	COMMON	717081103	2,763	85,063	SH		SOLE		0	0	85,063
PHILIP MORRIS INTL INC	COMMON	718172109	961	10,503	SH		SOLE		0	0	10,503
PHILLIPS 66	COMMON	718546104	302	3,491	SH		SOLE		0	0	3,491
PRAXAIR INC	COMMON	74005P104	29,563	252,267	SH		SOLE		21,500	0	230,767
PREMIER INC CL A	COMMON	74051N102	26,371	868,607	SH		SOLE		25,000	0	843,607
PROCTER & GAMBLE CO	COMMON	742718109	4,741	56,385	SH		SOLE		0	0	56,385
PROLOGIS INC	COMMON	74340W103	874	16,548	SH		SOLE		0	0	16,548
PRUDENTIAL FINANCIAL INC	COMMON	744320102	63,265	607,967	SH		SOLE		31,800	0	576,167
QIAGEN NV ORD	COMMON	N72482107	50,896	1,816,416	SH		SOLE		104,500	0	1,711,916
QUALCOMM INC	COMMON	747525103	75,957	1,164,985	SH		SOLE		50,000	0	1,114,985
REXNORD CORP NEW	COMMON	76169B102	10,606	541,410	SH		SOLE		30,000	0	511,410
ROSS STORES INC	COMMON	778296103	207	3,150	SH		SOLE		0	0	3,150
SANOFI SPONSORED ADR	COMMON	80105N105	6,117	151,260	SH		SOLE		8,000	0	143,260
SCHLUMBERGER LTD	COMMON	806857108	13,689	163,066	SH		SOLE		12,000	0	151,066
SMUCKER J M CO NEW	COMMON	832696405	26,167	204,332	SH		SOLE		12,000	0	192,332
SOLUCORP INDUSTRIES LTD	COMMON	83437C102	0	17,000	SH		SOLE		0	0	17,000
SONOCO PRODUCTS CO	COMMON	835495102	204	3,875	SH		SOLE		0	0	3,875
SOUTHWEST AIRLINES CO	COMMON	844741108	46,151	925,983	SH		SOLE		1,200	0	924,783
STANLEY BLACK & DECKER	COMMON	854502101	11,746	102,415	SH		SOLE		20,000	0	82,415
STARBUCKS CORP	COMMON	855244109	9,198	165,676	SH		SOLE		18,320	0	147,356
STERICYCLE INC	COMMON	858912108	14,869	193,000	SH		SOLE		22,000	0	171,000
STRATASYS LTD SHS	COMMON	M85548101	19,372	1,171,234	SH		SOLE		53,500	0	1,117,734
STRYKER CORP	COMMON	863667101	315	2,628	SH		SOLE		0	0	2,628
SYNCHRONY FINANCIAL	COMMON	87165B103	75,970	2,094,569	SH		SOLE		89,382	0	2,005,187
TARGET CORP	COMMON	87612E106	367	5,079	SH		SOLE		0	0	5,079
TD AMERITRADE HOLDING CORP	COMMON	87236Y108	12,610	289,210	SH		SOLE		1,000	0	288,210
TEGNA INC	COMMON	87901J105	12,406	579,994	SH		SOLE		0	0	579,994
TELUS CORP	COMMON	87971M103	1,723	54,100	SH		SOLE		0	0	54,100
THERMO FISHER SCIENTIFIC	COMMON	883556102	51,657	366,100	SH		SOLE		28,900	0	337,200
THOMSON REUTERS CORP	COMMON	884903105	2,898	66,195	SH		SOLE		0	0	66,195
TIME WARNER INC NEW	COMMON	887317303	591	6,124	SH		SOLE		0	0	6,124
TRANSDIGM GROUP INC	COMMON	893641100	698	2,805	SH		SOLE		0	0	2,805
TRUSTCO BK CORP N Y	COMMON	898349105	105	12,000	SH		SOLE		0	0	12,000
ULTRA PETROLEUM CORP	COMMON	903914109	72	10,000	SH		SOLE		0	0	10,000
UNILEVER N.V. (NY SHS)	COMMON	904784709	8,518	207,443	SH		SOLE		10,000	0	197,443
UNILEVER PLC SPON ADR NEW	COMMON	904767704	236	5,789	SH		SOLE		0	0	5,789
UNION PACIFIC CORP	COMMON	907818108	560	5,404	SH		SOLE		0	0	5,404
UNITED CONTINENTAL HOLDINGS IN	COMMON	910047109	100,868	1,384,023	SH		SOLE		58,800	0	1,325,223
UNITED PARCEL SERVICE CL B	COMMON	911312106	3,047	26,579	SH		SOLE		0	0	26,579
UNITED RENTALS INC	COMMON	911363109	4,963	47,003	SH		SOLE		0	0	47,003
UNITED TECHNOLOGIES CORP	COMMON	913017109	2,198	20,051	SH		SOLE		0	0	20,051
UNITEDHEALTH GROUP INC	COMMON	91324P102	493	3,082	SH		SOLE		0	0	3,082
US BANCORP NEW	COMMON	902973304	63,739	1,240,779	SH		SOLE		61,500	0	1,179,279
V F CORP	COMMON	918204108	37,758	707,740	SH		SOLE		10,100	0	697,640
VALERO ENERGY CORP	COMMON	91913Y100	43,801	641,108	SH		SOLE		30,100	0	611,008
VENTAS INC	COMMON	92276F100	3,226	51,596	SH		SOLE		25,000	0	26,596
VERIFONE SYSTEMS INC	COMMON	92342Y109	243	13,715	SH		SOLE		0	0	13,715
VERISK ANALYTICS INC	COMMON	92345Y106	42,798	527,260	SH		SOLE		33,000	0	494,260
VERIZON COMMUNICATIONS INC	COMMON	92343V104	6,780	127,018	SH		SOLE		0	0	127,018
VERSUM MATERIALS INC	COMMON	92532W103	965	34,378	SH		SOLE		0	0	34,378
VISA INC CL A	COMMON	92826C839	70,288	900,897	SH		SOLE		56,800	0	844,097
VODAFONE GROUP PLC NEW SPNSR A	COMMON	92857W308	401	16,395	SH		SOLE		0	0	16,395
VULCAN MATERIALS CO	COMMON	929160109	14,392	114,999	SH		SOLE		0	0	114,999
WABCO HOLDINGS INC	COMMON	92927K102	207	1,950	SH		SOLE		0	0	1,950
WASTE MANAGEMENT INC	COMMON	94106L109	718	10,120	SH		SOLE		0	0	10,120
WELLS FARGO & CO NEW	COMMON	949746101	2,467	44,770	SH		SOLE		0	0	44,770
WHOLE FOODS MARKET INC	COMMON	966837106	7,033	228,639	SH		SOLE		0	0	228,639
XPO LOGISTICS INC	COMMON	983793100	54,470	1,262,052	SH		SOLE		87,000	0	1,175,052
YAHOO INC	COMMON	984332106	14,595	377,420	SH		SOLE		0	0	377,420
YUM BRANDS INC	COMMON	988498101	45,435	717,436	SH		SOLE		33,500	0	683,936
YUM CHINA HOLDINGS INC	COMMON	98850P109	16,540	633,250	SH		SOLE		23,500	0	609,750
ZIONS BANCORPORATION	COMMON	989701107	9,481	220,279	SH		SOLE		1,000	0	219,279
ZOETIS INC CL A	COMMON	98978V103	18,697	349,283	SH		SOLE		10,000	0	339,283