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

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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
3M CO	COMMON	88579Y101	2,700	12,996	SH		SOLE		0	0	12,996
ABBOTT LABS	COMMON	002824100	1,923	24,061	SH		SOLE		0	0	24,061
ABBVIE INC	COMMON	00287Y109	1,301	16,148	SH		SOLE		0	0	16,148
ACCENTURE PLC IRELAND SHS CLAS	COMMON	G1151C101	15,920	90,443	SH		SOLE		2,300	0	88,143
ADOBE INC	COMMON	00724F101	2,635	9,889	SH		SOLE		0	0	9,889
AIR LEASE CORP CL A	COMMON	00912X302	46,956	1,366,987	SH		SOLE		109,588	0	1,257,399
AIR PRODUCTS & CHEMICALS INC	COMMON	009158106	2,423	12,687	SH		SOLE		0	0	12,687
AKAMAI TECHNOLOGIES INC	COMMON	00971T101	559	7,797	SH		SOLE		0	0	7,797
ALIBABA GROUP HOLDING LTD SPON	COMMON	01609W102	19,280	105,674	SH		SOLE		11,600	0	94,074
ALPHABET INC CAP STK CL A	COMMON	02079K305	34,281	29,129	SH		SOLE		3,502	0	25,627
ALPHABET INC CAP STK CL C	COMMON	02079K107	77,077	65,692	SH		SOLE		5,892	0	59,800
ALTABA INC	COMMON	021346101	20,698	279,251	SH		SOLE		4,020	0	275,231
ALTRIA GROUP INC	COMMON	02209S103	847	14,745	SH		SOLE		0	0	14,745
AMAZON.COM INC	COMMON	023135106	3,501	1,966	SH		SOLE		0	0	1,966
AMERICAN AIRLINES GROUP INC	COMMON	02376R102	10,223	321,877	SH		SOLE		55,750	0	266,127
AMERICAN EXPRESS CO	COMMON	025816109	65,358	597,972	SH		SOLE		66,209	0	531,763
AMERICAN INTL GROUP INC NEW	COMMON	026874784	1,119	25,985	SH		SOLE		0	0	25,985
AMERICAN TOWER CORP NEW	COMMON	03027X100	47,391	240,488	SH		SOLE		25,270	0	215,218
AMGEN INC	COMMON	031162100	14,524	76,450	SH		SOLE		6,400	0	70,050
ANADARKO PETROLEUM CORP	COMMON	032511107	8,536	187,680	SH		SOLE		42,800	0	144,880
ANTHRACITE CAP INC	COMMON	037023108	0	13,772	SH		SOLE		0	0	13,772
APACHE CORP	COMMON	037411105	13,422	387,234	SH		SOLE		18,149	0	369,085
APPLE INC	COMMON	037833100	16,743	88,142	SH		SOLE		0	0	88,142
APTIV PLC SHS	COMMON	G6095L109	70,218	883,360	SH		SOLE		89,126	0	794,234
ARCONIC INC	COMMON	03965L100	3,827	200,239	SH		SOLE		30,000	0	170,239
AT&T INC	COMMON	00206R102	15,050	479,924	SH		SOLE		22,500	0	457,424
AUTOMATIC DATA PROCESSING INC	COMMON	053015103	1,595	9,982	SH		SOLE		0	0	9,982
AUTOZONE INC	COMMON	053332102	430	420	SH		SOLE		0	0	420
AVALONBAY COMMUNITIES INC	COMMON	053484101	837	4,170	SH		SOLE		0	0	4,170
BANK OF AMERICA CORP	COMMON	060505104	58,119	2,106,540	SH		SOLE		163,178	0	1,943,362
BANKUNITED INC	COMMON	06652K103	57,841	1,731,760	SH		SOLE		152,491	0	1,579,269
BB&T CORP	COMMON	054937107	64,501	1,386,234	SH		SOLE		70,815	0	1,315,419
BECTON DICKINSON & CO	COMMON	075887109	621	2,487	SH		SOLE		0	0	2,487
BEIJING ENTRPRS WATER GRP LTD	COMMON	G0957L109	52	84,000	SH		SOLE		0	0	84,000
BERKSHIRE HATHAWAY INC CL B NE	COMMON	084670702	3,859	19,210	SH		SOLE		0	0	19,210
BLACKROCK INC	COMMON	09247X101	240	562	SH		SOLE		0	0	562
BLACKSTONE GROUP L P	COMMON	09253U108	44,318	1,267,317	SH		SOLE		157,228	0	1,110,089
BOEING CO	COMMON	097023105	2,256	5,915	SH		SOLE		0	0	5,915
BORGWARNER INC	COMMON	099724106	41,892	1,090,662	SH		SOLE		47,121	0	1,043,541
BRISTOL MYERS SQUIBB CO	COMMON	110122108	59,940	1,256,341	SH		SOLE		86,542	0	1,169,799
BROOKFIELD ASSET MGMT INC CL A	COMMON	112585104	257	5,500	SH		SOLE		0	0	5,500
CAMBRIDGE HEART INC	COMMON	131910101	0	302,350	SH		SOLE		0	0	302,350
CATERPILLAR INC	COMMON	149123101	849	6,266	SH		SOLE		0	0	6,266
CATHAY GEN BANCORP	COMMON	149150104	271	8,000	SH		SOLE		0	0	8,000
CELGENE CORP	COMMON	151020104	73,873	783,050	SH		SOLE		73,268	0	709,782
CERNER CORP	COMMON	156782104	47,936	837,896	SH		SOLE		78,829	0	759,067
CHARLES SCHWAB CORP NEW	COMMON	808513105	20,046	468,806	SH		SOLE		11,204	0	457,602
CHEMBIO DIAGNOSTICS INC NEW	COMMON	163572209	78	14,055	SH		SOLE		0	0	14,055
CHEVRON CORP NEW	COMMON	166764100	14,222	115,454	SH		SOLE		5,300	0	110,154
CHINA EVERBRIGHT INTL LTD ORD	COMMON	Y14226107	75	76,000	SH		SOLE		0	0	76,000
CHUBB LIMITED	COMMON	H1467J104	5,597	39,956	SH		SOLE		5,300	0	34,656
CISCO SYSTEMS INC	COMMON	17275R102	78,022	1,445,112	SH		SOLE		73,171	0	1,371,941
CITIGROUP INC NEW	COMMON	172967424	30,226	485,791	SH		SOLE		10,000	0	475,791
COCA-COLA CO	COMMON	191216100	15,087	321,952	SH		SOLE		0	0	321,952
COGNIZANT TECHNOLOGY SOLUTIONS	COMMON	192446102	685	9,450	SH		SOLE		0	0	9,450
COLGATE PALMOLIVE CO	COMMON	194162103	2,459	35,876	SH		SOLE		0	0	35,876
COMCAST CORP NEW CL A	COMMON	20030N101	13,698	342,614	SH		SOLE		0	0	342,614
CONOCOPHILLIPS	COMMON	20825C104	210	3,149	SH		SOLE		0	0	3,149
CONSOLIDATED EDISON INC	COMMON	209115104	375	4,426	SH		SOLE		0	0	4,426
CONSTELLATION BRANDS INC CL A	COMMON	21036P108	46,342	264,310	SH		SOLE		20,950	0	243,360
CORE LABORATORIES	COMMON	N22717107	4,697	68,141	SH		SOLE		0	0	68,141
CORNING INC	COMMON	219350105	305	9,210	SH		SOLE		0	0	9,210
COSTCO WHOLESALE CORP NEW	COMMON	22160K105	1,122	4,632	SH		SOLE		0	0	4,632
CVS HEALTH CORP	COMMON	126650100	209	3,879	SH		SOLE		0	0	3,879
DANAHER CORP	COMMON	235851102	76,157	576,861	SH		SOLE		66,928	0	509,933
DANONE SPONSORED ADR	COMMON	23636T100	170	11,000	SH		SOLE		0	0	11,000
DEERE & CO	COMMON	244199105	243	1,521	SH		SOLE		0	0	1,521
DELL TECHNOLOGIES INC CL C	COMMON	24703L202	719	12,247	SH		SOLE		0	0	12,247
DELPHI TECHNOLOGIES PLC SHS	COMMON	G2709G107	456	23,666	SH		SOLE		5,000	0	18,666
DELTA AIR LINES INC NEW	COMMON	247361702	103,783	2,009,344	SH		SOLE		173,036	0	1,836,308
DENTSPLY SIRONA INC	COMMON	24906P109	72,072	1,453,365	SH		SOLE		157,885	0	1,295,480
DIAGEO P L C SPON ADR NEW	COMMON	25243Q205	74,329	454,303	SH		SOLE		39,148	0	415,155
DISCOVERY INC SER A	COMMON	25470F104	1,874	69,347	SH		SOLE		5,000	0	64,347
DISCOVERY INC SER C	COMMON	25470F302	64,796	2,549,024	SH		SOLE		233,568	0	2,315,456
DOWDUPONT INC	COMMON	26078J100	945	17,732	SH		SOLE		0	0	17,732
EBAY INC	COMMON	278642103	931	25,064	SH		SOLE		0	0	25,064
ECOLAB INC	COMMON	278865100	32,932	186,539	SH		SOLE		14,600	0	171,939
EMERSON ELECTRIC CO	COMMON	291011104	621	9,073	SH		SOLE		0	0	9,073
ENTERPRISE PRODUCTS PARTNERS L	COMMON	293792107	597	20,505	SH		SOLE		0	0	20,505
EOG RESOURCES INC	COMMON	26875P101	20,303	213,307	SH		SOLE		12,078	0	201,229
EQUINIX INC	COMMON	29444U700	78,597	173,442	SH		SOLE		17,824	0	155,618
ERIN ENERGY CORP	COMMON	295625107	0	124,244	SH		SOLE		0	0	124,244
EXPEDIA GROUP INC NEW	COMMON	30212P303	34,889	293,188	SH		SOLE		40,502	0	252,686
EXPEDITORS INTL INC	COMMON	302130109	14,001	184,468	SH		SOLE		0	0	184,468
EXXON MOBIL CORP	COMMON	30231G102	3,893	48,182	SH		SOLE		0	0	48,182
FACEBOOK INC CL A	COMMON	30303M102	50,795	304,730	SH		SOLE		40,677	0	264,053
FEDEX CORP	COMMON	31428X106	2,758	15,201	SH		SOLE		0	0	15,201
FIRST REPUBLIC BANK	COMMON	33616C100	87,680	872,784	SH		SOLE		77,928	0	794,856
FORD MOTOR CO	COMMON	345370860	24,645	2,806,969	SH		SOLE		0	0	2,806,969
FORTIVE CORP	COMMON	34959J108	40,930	487,896	SH		SOLE		72,544	0	415,352
FORTUNE BRANDS HOME & SECURITY	COMMON	34964C106	59,540	1,250,576	SH		SOLE		77,341	0	1,173,235
GENERAL ELECTRIC CO	COMMON	369604103	1,128	112,958	SH		SOLE		0	0	112,958
GENERAL MILLS INC	COMMON	370334104	6,200	119,807	SH		SOLE		14,000	0	105,807
GENERAL MOTORS CO	COMMON	37045V100	96,645	2,604,977	SH		SOLE		207,623	0	2,397,354
GILEAD SCIENCES INC	COMMON	375558103	713	10,968	SH		SOLE		0	0	10,968
GROWLIFE INC	COMMON	39985X104	1	75,000	SH		SOLE		0	0	75,000
HARTCOURT COMPANIES INC NEW	COMMON	416187201	0	10,000	SH		SOLE		0	0	10,000
HERSHEY CO	COMMON	427866108	221	1,925	SH		SOLE		0	0	1,925
HOLLYFRONTIER CORP	COMMON	436106108	260	5,285	SH		SOLE		0	0	5,285
HOME DEPOT INC	COMMON	437076102	2,024	10,547	SH		SOLE		0	0	10,547
HONEYWELL INTERNATIONAL INC	COMMON	438516106	48,477	305,041	SH		SOLE		40,928	0	264,113
HP INC	COMMON	40434L105	469	24,150	SH		SOLE		0	0	24,150
HUBBELL INC	COMMON	443510607	242	2,050	SH		SOLE		0	0	2,050
HUDSONS BAY CO NEW	COMMON	444218101	54,444	9,809,687	SH		SOLE		673,081	0	9,136,606
IAC/INTERACTIVE CORP	COMMON	44919P508	97,541	464,237	SH		SOLE		44,933	0	419,304
ILLINOIS TOOL WORKS INC	COMMON	452308109	16,965	118,195	SH		SOLE		3,000	0	115,195
ILLUMINA INC	COMMON	452327109	116,909	376,288	SH		SOLE		33,546	0	342,742
INTEL CORP	COMMON	458140100	18,834	350,723	SH		SOLE		7,000	0	343,723
INTERNATIONAL BUSINESS MACHINE	COMMON	459200101	44,011	311,913	SH		SOLE		34,139	0	277,774
ISTAR INC	COMMON	45031U101	978	116,198	SH		SOLE		0	0	116,198
JOHNSON & JOHNSON	COMMON	478160104	9,181	65,679	SH		SOLE		0	0	65,679
JPMORGAN CHASE & CO	COMMON	46625H100	87,435	863,724	SH		SOLE		67,534	0	796,190
KANSAS CITY SOUTHERN NEW	COMMON	485170302	27,264	235,078	SH		SOLE		10,089	0	224,989
KIMBERLY CLARK CORP	COMMON	494368103	468	3,779	SH		SOLE		0	0	3,779
KIMCO REALTY CORP	COMMON	49446R109	8,703	470,430	SH		SOLE		15,000	0	455,430
KKR & CO INC CL A	COMMON	48251W104	450	19,171	SH		SOLE		0	0	19,171
L BRANDS INC	COMMON	501797104	34,901	1,265,430	SH		SOLE		134,802	0	1,130,628
LAMAR ADVERTISING CO NEW CL A	COMMON	512816109	1,709	21,565	SH		SOLE		0	0	21,565
LAUDER ESTEE COS INC CL A	COMMON	518439104	12,097	73,071	SH		SOLE		9,500	0	63,571
LILLY ELI & CO	COMMON	532457108	720	5,549	SH		SOLE		0	0	5,549
LINDE PLC	COMMON	G5494J103	9,748	55,410	SH		SOLE		0	0	55,410
LOWE'S COMPANIES INC	COMMON	548661107	70,568	644,635	SH		SOLE		25,821	0	618,814
M & T BANK CORP	COMMON	55261F104	775	4,933	SH		SOLE		0	0	4,933
MACYS INC	COMMON	55616P104	39,356	1,637,771	SH		SOLE		145,246	0	1,492,525
MAGELLAN MIDSTREAM PARTNERS LP	COMMON	559080106	391	6,450	SH		SOLE		0	0	6,450
MANHATTAN ASSOCIATES INC	COMMON	562750109	9,567	173,606	SH		SOLE		0	0	173,606
MARATHON PETROLEUM CORP	COMMON	56585A102	38,592	644,816	SH		SOLE		64,229	0	580,587
MARSH & MCLENNAN COS INC	COMMON	571748102	665	7,087	SH		SOLE		0	0	7,087
MARTIN MARIETTA MATERIALS INC	COMMON	573284106	2,264	11,254	SH		SOLE		0	0	11,254
MASCO CORP	COMMON	574599106	61,185	1,556,472	SH		SOLE		156,860	0	1,399,612
MASTERCARD INCORPORATED CL A	COMMON	57636Q104	92,657	393,531	SH		SOLE		37,823	0	355,708
MAXAR TECHNOLOGIES LTD	COMMON	57778K105	11,077	2,755,577	SH		SOLE		227,501	0	2,528,076
MCCORMICK & CO INC	COMMON	579780206	1,430	9,495	SH		SOLE		0	0	9,495
MCDONALDS CORP	COMMON	580135101	709	3,731	SH		SOLE		0	0	3,731
MEDTRONIC PLC SHS	COMMON	G5960L103	444	4,870	SH		SOLE		0	0	4,870
MERCK & COMPANY INC	COMMON	58933Y105	40,979	492,717	SH		SOLE		20,555	0	472,162
METLIFE INC	COMMON	59156R108	50,849	1,194,475	SH		SOLE		44,211	0	1,150,264
MICROCHIP TECHNOLOGY INC	COMMON	595017104	538	6,484	SH		SOLE		0	0	6,484
MICROSOFT CORP	COMMON	594918104	109,310	926,825	SH		SOLE		83,898	0	842,927
MONDELEZ INTL INC CL A	COMMON	609207105	922	18,461	SH		SOLE		0	0	18,461
MONSTER BEVERAGE CORP NEW	COMMON	61174X109	344	6,296	SH		SOLE		0	0	6,296
MORGAN STANLEY NEW	COMMON	617446448	44,926	1,064,586	SH		SOLE		102,694	0	961,892
NESTLE SA SPONSORED ADR	COMMON	641069406	62,925	660,347	SH		SOLE		33,662	0	626,685
NETFLIX INC	COMMON	64110L106	296	830	SH		SOLE		0	0	830
NIELSEN HOLDINGS PLC SHS EUR	COMMON	G6518L108	225	9,517	SH		SOLE		0	0	9,517
NIKE INC CL B	COMMON	654106103	658	7,808	SH		SOLE		0	0	7,808
NORDSTROM INC	COMMON	655664100	19,092	430,192	SH		SOLE		0	0	430,192
NOVARTIS A G SPONSORED ADR	COMMON	66987V109	31,879	331,592	SH		SOLE		46,000	0	285,592
NOVO-NORDISK A S ADR	COMMON	670100205	429	8,203	SH		SOLE		0	0	8,203
NVIDIA CORP	COMMON	67066G104	58,216	324,214	SH		SOLE		42,784	0	281,430
ORACLE CORP	COMMON	68389X105	79,718	1,484,230	SH		SOLE		138,920	0	1,345,310
ORBCOMM INC	COMMON	68555P100	509	75,000	SH		SOLE		0	0	75,000
PAYCHEX INC	COMMON	704326107	345	4,302	SH		SOLE		0	0	4,302
PAYPAL HOLDINGS INC	COMMON	70450Y103	66,894	644,200	SH		SOLE		26,797	0	617,403
PEPSICO INC	COMMON	713448108	17,907	146,123	SH		SOLE		1,156	0	144,967
PFIZER INC	COMMON	717081103	2,736	64,412	SH		SOLE		0	0	64,412
PHILIP MORRIS INTERNATIONAL IN	COMMON	718172109	859	9,718	SH		SOLE		0	0	9,718
PIONEER NATURAL RESOURCES CO	COMMON	723787107	10,980	72,104	SH		SOLE		2,986	0	69,118
PNC FINANCIAL SERVICES GROUP I	COMMON	693475105	303	2,472	SH		SOLE		0	0	2,472
PPG INDUSTRIES INC	COMMON	693506107	207	1,834	SH		SOLE		0	0	1,834
PREMIER INC CL A	COMMON	74051N102	2,014	58,392	SH		SOLE		0	0	58,392
PROCTER AND GAMBLE CO	COMMON	742718109	2,982	28,663	SH		SOLE		0	0	28,663
PROGRESSIVE CORP OHIO	COMMON	743315103	228	3,163	SH		SOLE		0	0	3,163
PROLOGIS INC	COMMON	74340W103	390	5,420	SH		SOLE		0	0	5,420
PRUDENTIAL FINANCIAL INC	COMMON	744320102	82,539	898,331	SH		SOLE		69,355	0	828,976
QUALCOMM INC	COMMON	747525103	93,473	1,639,009	SH		SOLE		144,491	0	1,494,518
QUANTUM MATERIALS CORP	COMMON	74766A106	1	22,000	SH		SOLE		0	0	22,000
RAYTHEON CO NEW	COMMON	755111507	316	1,736	SH		SOLE		0	0	1,736
REINSURANCE GROUP AMERICA INC	COMMON	759351604	35,663	251,183	SH		SOLE		33,461	0	217,722
ROYAL DUTCH SHELL PLC SPON ADR	COMMON	780259107	21,716	339,574	SH		SOLE		51,893	0	287,681
ROYAL DUTCH SHELL PLC SPONS AD	COMMON	780259206	221	3,526	SH		SOLE		0	0	3,526
ROYAL NICKEL CORP	COMMON	780357109	71	190,000	SH		SOLE		0	0	190,000
SCHLUMBERGER LTD	COMMON	806857108	4,777	109,646	SH		SOLE		0	0	109,646
SERVICE CORP INTERNATIONAL	COMMON	817565104	249	6,200	SH		SOLE		0	0	6,200
SIMON PROPERTY GROUP INC NEW	COMMON	828806109	44,121	242,143	SH		SOLE		27,824	0	214,319
SMUCKER J M CO NEW	COMMON	832696405	30,632	262,935	SH		SOLE		14,063	0	248,872
SOLUCORP INDUSTRIES LTD	COMMON	83437C102	0	17,000	SH		SOLE		0	0	17,000
SONOCO PRODUCTS CO	COMMON	835495102	225	3,654	SH		SOLE		0	0	3,654
SOUTHWEST AIRLINES CO	COMMON	844741108	22,078	425,319	SH		SOLE		16,200	0	409,119
SS&C TECHNOLOGIES HOLDINGS INC	COMMON	78467J100	59,649	936,546	SH		SOLE		104,966	0	831,580
STANLEY BLACK & DECKER INC	COMMON	854502101	23,500	172,581	SH		SOLE		20,410	0	152,171
STARBUCKS CORP	COMMON	855244109	1,887	25,384	SH		SOLE		0	0	25,384
STRATASYS LTD SHS	COMMON	M85548101	22,853	959,391	SH		SOLE		93,952	0	865,439
STRYKER CORP	COMMON	863667101	354	1,790	SH		SOLE		0	0	1,790
SUN CUMMUNITIES INC	COMMON	866674104	356	3,000	SH		SOLE		0	0	3,000
SVB FINANCIAL GROUP	COMMON	78486Q101	14,489	65,162	SH		SOLE		3,132	0	62,030
SYNCHRONY FINANCIAL	COMMON	87165B103	56,623	1,775,028	SH		SOLE		142,966	0	1,632,062
TARGET CORP	COMMON	87612E106	255	3,174	SH		SOLE		0	0	3,174
TD AMERITRADE HOLDING CORP	COMMON	87236Y108	8,100	162,040	SH		SOLE		0	0	162,040
TELUS CORP	COMMON	87971M103	259	7,000	SH		SOLE		0	0	7,000
THERMO FISHER SCIENTIFIC INC	COMMON	883556102	93,249	340,672	SH		SOLE		30,305	0	310,367
TIREX CORP	COMMON	88823T106	0	12,000	SH		SOLE		0	0	12,000
TJX COS INC NEW	COMMON	872540109	231	4,346	SH		SOLE		0	0	4,346
TRANSDIGM GROUP INC	COMMON	893641100	990	2,180	SH		SOLE		0	0	2,180
TRAVELERS COMPANIES INC	COMMON	89417E109	268	1,953	SH		SOLE		0	0	1,953
TRUSTCO BANK CORP NY	COMMON	898349105	93	12,000	SH		SOLE		0	0	12,000
ULTA BEAUTY INC	COMMON	90384S303	15,882	45,541	SH		SOLE		5,600	0	39,941
UNILEVER N V N Y SHS NEW	COMMON	904784709	3,072	52,694	SH		SOLE		0	0	52,694
UNION PACIFIC CORP	COMMON	907818108	954	5,708	SH		SOLE		0	0	5,708
UNITED CONTINENTAL HOLDINGS IN	COMMON	910047109	73,965	927,112	SH		SOLE		60,730	0	866,382
UNITED PARCEL SERVICE INC CL B	COMMON	911312106	730	6,529	SH		SOLE		0	0	6,529
UNITED RENTALS INC	COMMON	911363109	2,741	23,994	SH		SOLE		0	0	23,994
UNITED TECHNOLOGIES CORP	COMMON	913017109	1,624	12,597	SH		SOLE		0	0	12,597
UNITEDHEALTH GROUP INC	COMMON	91324P102	2,106	8,518	SH		SOLE		0	0	8,518
US BANCORP NEW	COMMON	902973304	74,059	1,536,805	SH		SOLE		117,260	0	1,419,545
V F CORP	COMMON	918204108	37,564	432,220	SH		SOLE		17,641	0	414,579
VALERO ENERGY CORP NEW	COMMON	91913Y100	6,597	77,773	SH		SOLE		0	0	77,773
VERISK ANALYTICS INC	COMMON	92345Y106	50,630	380,673	SH		SOLE		42,818	0	337,855
VERIZON COMMUNICATIONS INC	COMMON	92343V104	2,161	36,547	SH		SOLE		0	0	36,547
VISA INC CL A	COMMON	92826C839	103,415	662,111	SH		SOLE		62,299	0	599,812
VODAFONE GROUP PLC NEW SPONSOR	COMMON	92857W308	186	10,205	SH		SOLE		0	0	10,205
VULCAN MATERIALS CO	COMMON	929160109	8,448	71,353	SH		SOLE		1,510	0	69,843
WALMART INC	COMMON	931142103	1,090	11,171	SH		SOLE		0	0	11,171
WALT DISNEY CO	COMMON	254687106	39,810	358,553	SH		SOLE		26,063	0	332,490
WASTE MANAGEMENT INC	COMMON	94106L109	804	7,739	SH		SOLE		0	0	7,739
WELLS FARGO CO NEW	COMMON	949746101	1,660	34,350	SH		SOLE		0	0	34,350
XPO LOGISTICS INC	COMMON	983793100	51,066	950,241	SH		SOLE		104,107	0	846,134
YELP INC CL A	COMMON	985817105	24,069	697,663	SH		SOLE		42,902	0	654,761
YUM BRANDS INC	COMMON	988498101	4,888	48,971	SH		SOLE		0	0	48,971
YUM CHINA HOLDINGS INC	COMMON	98850P109	347	7,730	SH		SOLE		0	0	7,730
ZIMMER BIOMET HOLDINGS INC	COMMON	98956P102	6,536	51,183	SH		SOLE		4,200	0	46,983
ZIONS BANCORPORATION N A	COMMON	989701107	10,629	234,059	SH		SOLE		8,112	0	225,947
ZOETIS INC CL A	COMMON	98978V103	3,195	31,735	SH		SOLE		0	0	31,735