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
3M CO	COMMON	88579Y101	1,723	10,479	SH		SOLE		0	0	10,479
ABBOTT LABS	COMMON	002824100	1,490	17,807	SH		SOLE		0	0	17,807
ABBVIE INC	COMMON	00287Y109	1,002	13,236	SH		SOLE		0	0	13,236
ACCENTURE PLC IRELAND SHS CLAS	COMMON	G1151C101	14,311	74,401	SH		SOLE		2,300	0	72,101
ADOBE INC	COMMON	00724F101	2,315	8,379	SH		SOLE		0	0	8,379
AIR LEASE CORP CL A	COMMON	00912X302	60,387	1,443,969	SH		SOLE		124,669	0	1,319,300
AIR PRODUCTS & CHEMICALS INC	COMMON	009158106	2,329	10,499	SH		SOLE		0	0	10,499
AKAMAI TECHNOLOGIES INC	COMMON	00971T101	676	7,397	SH		SOLE		0	0	7,397
ALCON INC ORD SHS	COMMON	H01301128	3,375	57,900	SH		SOLE		8,200	0	49,700
ALIBABA GROUP HOLDING LTD SPON	COMMON	01609W102	32,072	191,785	SH		SOLE		28,700	0	163,085
ALPHABET INC CAP STK CL A	COMMON	02079K305	33,665	27,569	SH		SOLE		3,332	0	24,237
ALPHABET INC CAP STK CL C	COMMON	02079K107	77,751	63,783	SH		SOLE		5,557	0	58,226
ALTRIA GROUP INC	COMMON	02209S103	331	8,091	SH		SOLE		0	0	8,091
AMAZON.COM INC	COMMON	023135106	3,411	1,965	SH		SOLE		0	0	1,965
AMERICAN AIRLINES GROUP INC	COMMON	02376R102	8,793	326,041	SH		SOLE		52,250	0	273,791
AMERICAN ELECTRIC POWER INC	COMMON	025537101	209	2,228	SH		SOLE		0	0	2,228
AMERICAN EXPRESS CO	COMMON	025816109	68,540	579,473	SH		SOLE		63,609	0	515,864
AMERICAN INTL GROUP INC NEW	COMMON	026874784	648	11,634	SH		SOLE		0	0	11,634
AMERICAN TOWER CORP NEW	COMMON	03027X100	51,391	232,400	SH		SOLE		23,915	0	208,485
AMGEN INC	COMMON	031162100	10,013	51,742	SH		SOLE		400	0	51,342
ANHEUSER BUSCH INBEV SA/NV SPO	COMMON	03524A108	214	2,250	SH		SOLE		0	0	2,250
ANTHRACITE CAP INC	COMMON	037023108	0	13,772	SH		SOLE		0	0	13,772
APACHE CORP	COMMON	037411105	20,340	794,547	SH		SOLE		98,900	0	695,647
APPLE INC	COMMON	037833100	16,016	71,510	SH		SOLE		0	0	71,510
APTIV PLC SHS	COMMON	G6095L109	78,493	897,886	SH		SOLE		86,336	0	811,550
ARCONIC INC	COMMON	03965L100	947	36,424	SH		SOLE		0	0	36,424
AT&T INC	COMMON	00206R102	31,856	841,866	SH		SOLE		34,200	0	807,666
AUTOMATIC DATA PROCESSING INC	COMMON	053015103	1,560	9,662	SH		SOLE		0	0	9,662
AUTOZONE INC	COMMON	053332102	439	405	SH		SOLE		0	0	405
AVALONBAY COMMUNITIES INC	COMMON	053484101	877	4,074	SH		SOLE		0	0	4,074
BANK OF AMERICA CORP	COMMON	060505104	64,966	2,227,161	SH		SOLE		178,178	0	2,048,983
BANKUNITED INC	COMMON	06652K103	55,942	1,663,963	SH		SOLE		136,491	0	1,527,472
BAXTER INTERNATIONAL INC	COMMON	071813109	300	3,430	SH		SOLE		0	0	3,430
BB&T CORP	COMMON	054937107	76,184	1,427,474	SH		SOLE		71,050	0	1,356,424
BECTON DICKINSON & CO	COMMON	075887109	714	2,824	SH		SOLE		0	0	2,824
BEIJING ENTRPRS WATER GRP LTD	COMMON	G0957L109	43	84,000	SH		SOLE		0	0	84,000
BERKSHIRE HATHAWAY INC CL B NE	COMMON	084670702	4,139	19,896	SH		SOLE		0	0	19,896
BLACKROCK INC	COMMON	09247X101	217	488	SH		SOLE		0	0	488
BLACKSTONE GROUP INC	COMMON	09260D107	67,364	1,379,286	SH		SOLE		166,628	0	1,212,658
BOEING CO	COMMON	097023105	2,333	6,131	SH		SOLE		0	0	6,131
BOOKING HOLDINGS INC	COMMON	09857L108	222	113	SH		SOLE		0	0	113
BORGWARNER INC	COMMON	099724106	26,537	723,473	SH		SOLE		25,324	0	698,149
BP PLC SPONSORED ADR	COMMON	055622104	221	5,805	SH		SOLE		0	0	5,805
BRISTOL MYERS SQUIBB CO	COMMON	110122108	67,544	1,331,961	SH		SOLE		84,542	0	1,247,419
BROOKFIELD ASSET MGMT INC CL A	COMMON	112585104	292	5,500	SH		SOLE		0	0	5,500
BROWN FORMAN CORP CL B	COMMON	115637209	212	3,375	SH		SOLE		0	0	3,375
CATERPILLAR INC	COMMON	149123101	792	6,271	SH		SOLE		0	0	6,271
CELGENE CORP	COMMON	151020104	72,601	731,126	SH		SOLE		71,268	0	659,858
CERNER CORP	COMMON	156782104	34,393	504,519	SH		SOLE		32,623	0	471,896
CHARLES SCHWAB CORP NEW	COMMON	808513105	18,314	437,814	SH		SOLE		11,204	0	426,610
CHEVRON CORP NEW	COMMON	166764100	17,045	143,715	SH		SOLE		5,300	0	138,415
CHINA EVERBRIGHT INTL LTD ORD	COMMON	Y14226107	59	76,000	SH		SOLE		0	0	76,000
CHUBB LIMITED	COMMON	H1467J104	7,143	44,244	SH		SOLE		5,700	0	38,544
CISCO SYSTEMS INC	COMMON	17275R102	63,563	1,286,430	SH		SOLE		56,971	0	1,229,459
CITIGROUP INC NEW	COMMON	172967424	34,632	501,333	SH		SOLE		11,325	0	490,008
COCA-COLA CO	COMMON	191216100	18,621	342,046	SH		SOLE		0	0	342,046
COGNIZANT TECHNOLOGY SOLUTIONS	COMMON	192446102	290	4,809	SH		SOLE		0	0	4,809
COLGATE PALMOLIVE CO	COMMON	194162103	2,099	28,551	SH		SOLE		0	0	28,551
COLONY CAP INC NEW CL A	COMMON	19626G108	93	15,492	SH		SOLE		0	0	15,492
COMCAST CORP NEW CL A	COMMON	20030N101	13,891	308,144	SH		SOLE		0	0	308,144
CONSOLIDATED EDISON INC	COMMON	209115104	442	4,676	SH		SOLE		0	0	4,676
CONSTELLATION BRANDS INC CL A	COMMON	21036P108	61,650	297,421	SH		SOLE		21,845	0	275,576
CORE LABORATORIES	COMMON	N22717107	7,947	170,472	SH		SOLE		0	0	170,472
COSTCO WHOLESALE CORP NEW	COMMON	22160K105	1,385	4,806	SH		SOLE		0	0	4,806
CVS HEALTH CORP	COMMON	126650100	265	4,195	SH		SOLE		0	0	4,195
DANAHER CORP	COMMON	235851102	81,206	562,253	SH		SOLE		64,528	0	497,725
DELL TECHNOLOGIES INC CL C	COMMON	24703L202	583	11,249	SH		SOLE		0	0	11,249
DELTA AIR LINES INC NEW	COMMON	247361702	115,733	2,009,259	SH		SOLE		166,947	0	1,842,312
DENTSPLY SIRONA INC	COMMON	24906P109	34,961	655,808	SH		SOLE		91,336	0	564,472
DIAGEO P L C SPON ADR NEW	COMMON	25243Q205	70,855	433,313	SH		SOLE		31,973	0	401,340
DISCOVERY INC SER A	COMMON	25470F104	1,678	63,016	SH		SOLE		0	0	63,016
DISCOVERY INC SER C	COMMON	25470F302	62,805	2,550,980	SH		SOLE		226,863	0	2,324,117
DOMINION ENERGY INC	COMMON	25746U109	208	2,568	SH		SOLE		0	0	2,568
DOW INC	COMMON	260557103	260	5,465	SH		SOLE		0	0	5,465
DUKE ENERGY CORP NEW	COMMON	26441C204	408	4,261	SH		SOLE		0	0	4,261
DUPONT DE NEMOURS INC	COMMON	26614N102	394	5,528	SH		SOLE		0	0	5,528
ECOLAB INC	COMMON	278865100	8,586	43,356	SH		SOLE		480	0	42,876
ELECTRONIC ARTS INC	COMMON	285512109	22,547	230,499	SH		SOLE		12,350	0	218,149
EMERSON ELECTRIC CO	COMMON	291011104	550	8,223	SH		SOLE		0	0	8,223
ENTERPRISE PRODUCTS PARTNERS L	COMMON	293792107	612	21,405	SH		SOLE		0	0	21,405
EOG RESOURCES INC	COMMON	26875P101	25,966	349,845	SH		SOLE		40,800	0	309,045
EQUINIX INC	COMMON	29444U700	97,098	168,340	SH		SOLE		15,624	0	152,716
ERIN ENERGY CORP	COMMON	295625107	0	124,244	SH		SOLE		0	0	124,244
EXPEDIA GROUP INC NEW	COMMON	30212P303	35,483	263,994	SH		SOLE		35,202	0	228,792
EXPEDITORS INTL INC	COMMON	302130109	13,386	180,184	SH		SOLE		0	0	180,184
EXXON MOBIL CORP	COMMON	30231G102	3,250	46,024	SH		SOLE		0	0	46,024
FACEBOOK INC CL A	COMMON	30303M102	50,403	283,036	SH		SOLE		38,127	0	244,909
FEDEX CORP	COMMON	31428X106	1,935	13,291	SH		SOLE		0	0	13,291
FIRST REPUBLIC BANK	COMMON	33616C100	86,839	898,029	SH		SOLE		76,428	0	821,601
FORD MOTOR CO	COMMON	345370860	25,054	2,735,135	SH		SOLE		0	0	2,735,135
FORTIVE CORP	COMMON	34959J108	36,528	532,791	SH		SOLE		72,995	0	459,796
FORTUNE BRANDS HOME & SECURITY	COMMON	34964C106	69,684	1,273,925	SH		SOLE		73,726	0	1,200,199
GARDNER DENVER HOLDINGS INC	COMMON	36555P107	13,466	476,001	SH		SOLE		101,200	0	374,801
GENERAL ELECTRIC CO	COMMON	369604103	911	101,894	SH		SOLE		0	0	101,894
GENERAL MILLS INC	COMMON	370334104	16,195	293,814	SH		SOLE		15,300	0	278,514
GENERAL MOTORS CO	COMMON	37045V100	98,964	2,640,441	SH		SOLE		200,983	0	2,439,458
GILEAD SCIENCES INC	COMMON	375558103	292	4,605	SH		SOLE		0	0	4,605
GLAXOSMITHKLINE PLC SPONSORED	COMMON	37733W105	17,372	407,037	SH		SOLE		73,500	0	333,537
GROWLIFE INC	COMMON	39985X104	0	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	315	2,031	SH		SOLE		0	0	2,031
HOME DEPOT INC	COMMON	437076102	2,639	11,372	SH		SOLE		0	0	11,372
HONEYWELL INTERNATIONAL INC	COMMON	438516106	52,128	308,087	SH		SOLE		39,348	0	268,739
HP INC	COMMON	40434L105	391	20,681	SH		SOLE		0	0	20,681
HUBBELL INC	COMMON	443510607	269	2,050	SH		SOLE		0	0	2,050
HUDSONS BAY CO NEW	COMMON	444218101	73,222	9,550,611	SH		SOLE		656,531	0	8,894,080
IAC/INTERACTIVE CORP	COMMON	44919P508	88,883	407,778	SH		SOLE		40,733	0	367,045
ILLINOIS TOOL WORKS INC	COMMON	452308109	17,718	113,223	SH		SOLE		3,000	0	110,223
ILLUMINA INC	COMMON	452327109	111,196	365,511	SH		SOLE		31,196	0	334,315
INTEL CORP	COMMON	458140100	13,882	269,387	SH		SOLE		7,000	0	262,387
INTERNATIONAL BUSINESS MACHINE	COMMON	459200101	52,724	362,561	SH		SOLE		37,848	0	324,713
ISTAR INC	COMMON	45031U101	1,474	112,950	SH		SOLE		0	0	112,950
JOHNSON & JOHNSON	COMMON	478160104	8,346	64,505	SH		SOLE		0	0	64,505
JPMORGAN CHASE & CO	COMMON	46625H100	102,939	874,659	SH		SOLE		66,034	0	808,625
KANSAS CITY SOUTHERN NEW	COMMON	485170302	31,175	234,378	SH		SOLE		9,649	0	224,729
KIMBERLY CLARK CORP	COMMON	494368103	499	3,514	SH		SOLE		0	0	3,514
KIMCO REALTY CORP	COMMON	49446R109	37,446	1,793,401	SH		SOLE		48,000	0	1,745,401
KKR & CO INC CL A	COMMON	48251W104	515	19,171	SH		SOLE		0	0	19,171
KONTOOR BRANDS INC	COMMON	50050N103	870	24,799	SH		SOLE		144	0	24,655
L BRANDS INC	COMMON	501797104	24,913	1,271,712	SH		SOLE		92,500	0	1,179,212
LAMAR ADVERTISING CO NEW CL A	COMMON	512816109	1,677	20,465	SH		SOLE		0	0	20,465
LAUDER ESTEE COS INC CL A	COMMON	518439104	13,606	68,387	SH		SOLE		7,150	0	61,237
LILLY ELI & CO	COMMON	532457108	612	5,472	SH		SOLE		0	0	5,472
LINDE PLC	COMMON	G5494J103	1,187	6,127	SH		SOLE		0	0	6,127
LOCKHEED MARTIN CORP	COMMON	539830109	260	667	SH		SOLE		0	0	667
LOWE'S COMPANIES INC	COMMON	548661107	71,799	652,951	SH		SOLE		25,341	0	627,610
M & T BANK CORP	COMMON	55261F104	653	4,133	SH		SOLE		0	0	4,133
MACYS INC	COMMON	55616P104	29,123	1,874,053	SH		SOLE		128,246	0	1,745,807
MAGELLAN MIDSTREAM PARTNERS LP	COMMON	559080106	368	5,550	SH		SOLE		0	0	5,550
MANHATTAN ASSOCIATES INC	COMMON	562750109	1,645	20,387	SH		SOLE		0	0	20,387
MARATHON PETROLEUM CORP	COMMON	56585A102	36,133	594,779	SH		SOLE		34,266	0	560,513
MARSH & MCLENNAN COS INC	COMMON	571748102	703	7,025	SH		SOLE		0	0	7,025
MARTIN MARIETTA MATERIALS INC	COMMON	573284106	3,038	11,084	SH		SOLE		0	0	11,084
MASCO CORP	COMMON	574599106	67,417	1,617,479	SH		SOLE		151,953	0	1,465,526
MASTERCARD INCORPORATED CL A	COMMON	57636Q104	96,120	353,942	SH		SOLE		32,073	0	321,869
MAXAR TECHNOLOGIES LTD	COMMON	57778K105	24,417	3,212,765	SH		SOLE		220,501	0	2,992,264
MCCORMICK & CO INC	COMMON	579780206	1,425	9,120	SH		SOLE		0	0	9,120
MCDONALDS CORP	COMMON	580135101	735	3,422	SH		SOLE		0	0	3,422
MEDTRONIC PLC SHS	COMMON	G5960L103	494	4,546	SH		SOLE		0	0	4,546
MERCK & COMPANY INC	COMMON	58933Y105	39,668	471,233	SH		SOLE		19,580	0	451,653
METLIFE INC	COMMON	59156R108	33,856	717,892	SH		SOLE		23,822	0	694,070
MICROCHIP TECHNOLOGY INC	COMMON	595017104	497	5,348	SH		SOLE		0	0	5,348
MICROSOFT CORP	COMMON	594918104	120,126	864,030	SH		SOLE		70,898	0	793,132
MONDELEZ INTL INC CL A	COMMON	609207105	932	16,842	SH		SOLE		0	0	16,842
MONSTER BEVERAGE CORP NEW	COMMON	61174X109	354	6,096	SH		SOLE		0	0	6,096
MORGAN STANLEY NEW	COMMON	617446448	49,419	1,158,175	SH		SOLE		100,880	0	1,057,295
NESTLE SA SPONSORED ADR	COMMON	641069406	70,041	646,137	SH		SOLE		32,912	0	613,225
NETFLIX INC	COMMON	64110L106	264	988	SH		SOLE		0	0	988
NEXTERA ENERGY INC	COMMON	65339F101	222	952	SH		SOLE		0	0	952
NIKE INC CL B	COMMON	654106103	647	6,887	SH		SOLE		0	0	6,887
NORDSTROM INC	COMMON	655664100	23,685	703,458	SH		SOLE		0	0	703,458
NOVARTIS A G SPONSORED ADR	COMMON	66987V109	29,652	341,222	SH		SOLE		46,000	0	295,222
NOVO-NORDISK A S ADR	COMMON	670100205	331	6,400	SH		SOLE		0	0	6,400
NVIDIA CORP	COMMON	67066G104	60,739	348,937	SH		SOLE		42,999	0	305,938
ORACLE CORP	COMMON	68389X105	80,664	1,465,812	SH		SOLE		133,320	0	1,332,492
ORBCOMM INC	COMMON	68555P100	179	37,500	SH		SOLE		0	0	37,500
PAYCHEX INC	COMMON	704326107	365	4,406	SH		SOLE		0	0	4,406
PAYPAL HOLDINGS INC	COMMON	70450Y103	61,362	592,357	SH		SOLE		21,247	0	571,110
PEPSICO INC	COMMON	713448108	19,493	142,179	SH		SOLE		1,156	0	141,023
PFIZER INC	COMMON	717081103	2,254	62,723	SH		SOLE		0	0	62,723
PHILIP MORRIS INTERNATIONAL IN	COMMON	718172109	485	6,390	SH		SOLE		0	0	6,390
PIONEER NATURAL RESOURCES CO	COMMON	723787107	12,913	102,674	SH		SOLE		4,380	0	98,294
PNC FINANCIAL SERVICES GROUP I	COMMON	693475105	270	1,929	SH		SOLE		0	0	1,929
PREMIER INC CL A	COMMON	74051N102	517	17,887	SH		SOLE		0	0	17,887
PROCTER AND GAMBLE CO	COMMON	742718109	3,672	29,521	SH		SOLE		0	0	29,521
PROGRESSIVE CORP OHIO	COMMON	743315103	244	3,163	SH		SOLE		0	0	3,163
PROLOGIS INC	COMMON	74340W103	469	5,498	SH		SOLE		0	0	5,498
PRUDENTIAL FINANCIAL INC	COMMON	744320102	84,656	941,149	SH		SOLE		69,644	0	871,505
QUALCOMM INC	COMMON	747525103	123,065	1,613,333	SH		SOLE		139,491	0	1,473,842
QUANTUM MATERIALS CORP	COMMON	74766A106	1	22,000	SH		SOLE		0	0	22,000
REINSURANCE GROUP AMERICA INC	COMMON	759351604	42,291	264,519	SH		SOLE		32,461	0	232,058
ROYAL DUTCH SHELL PLC SPON ADR	COMMON	780259107	29,003	484,185	SH		SOLE		50,030	0	434,155
ROYAL DUTCH SHELL PLC SPONS AD	COMMON	780259206	235	3,998	SH		SOLE		0	0	3,998
ROYAL NICKEL CORP	COMMON	780357109	50	190,000	SH		SOLE		0	0	190,000
SCHLUMBERGER LTD	COMMON	806857108	8,620	252,266	SH		SOLE		0	0	252,266
SIMON PROPERTY GROUP INC NEW	COMMON	828806109	43,645	280,407	SH		SOLE		29,758	0	250,649
SMILEDIRECTCLUB INC CL A	COMMON	83192H106	166	11,991	SH		SOLE		0	0	11,991
SMUCKER J M CO NEW	COMMON	832696405	26,418	240,117	SH		SOLE		11,500	0	228,617
SOLUCORP INDUSTRIES LTD	COMMON	83437C102	0	17,000	SH		SOLE		0	0	17,000
SOUTHWEST AIRLINES CO	COMMON	844741108	11,691	216,460	SH		SOLE		16,200	0	200,260
SS&C TECHNOLOGIES HOLDINGS INC	COMMON	78467J100	55,992	1,085,739	SH		SOLE		113,577	0	972,162
STANLEY BLACK & DECKER INC	COMMON	854502101	30,860	213,695	SH		SOLE		24,035	0	189,660
STARBUCKS CORP	COMMON	855244109	2,150	24,319	SH		SOLE		0	0	24,319
STRATASYS LTD SHS	COMMON	M85548101	18,323	860,010	SH		SOLE		93,952	0	766,058
STRYKER CORP	COMMON	863667101	376	1,740	SH		SOLE		0	0	1,740
SVB FINANCIAL GROUP	COMMON	78486Q101	18,352	87,831	SH		SOLE		5,132	0	82,699
SYNCHRONY FINANCIAL	COMMON	87165B103	41,504	1,217,478	SH		SOLE		110,131	0	1,107,347
TARGET CORP	COMMON	87612E106	362	3,387	SH		SOLE		0	0	3,387
TD AMERITRADE HOLDING CORP	COMMON	87236Y108	248	5,315	SH		SOLE		0	0	5,315
THERMO FISHER SCIENTIFIC INC	COMMON	883556102	94,395	324,080	SH		SOLE		27,955	0	296,125
TIREX CORP	COMMON	88823T106	0	12,000	SH		SOLE		0	0	12,000
TJX COS INC NEW	COMMON	872540109	211	3,786	SH		SOLE		0	0	3,786
TRANSDIGM GROUP INC	COMMON	893641100	1,109	2,130	SH		SOLE		0	0	2,130
TRAVELERS COMPANIES INC	COMMON	89417E109	313	2,104	SH		SOLE		0	0	2,104
ULTA BEAUTY INC	COMMON	90384S303	14,534	57,984	SH		SOLE		5,700	0	52,284
UNILEVER N V N Y SHS NEW	COMMON	904784709	2,600	43,304	SH		SOLE		0	0	43,304
UNION PACIFIC CORP	COMMON	907818108	938	5,793	SH		SOLE		0	0	5,793
UNITED AIRLINES HOLDINGS INC	COMMON	910047109	67,443	762,843	SH		SOLE		18,890	0	743,953
UNITED PARCEL SERVICE INC CL B	COMMON	911312106	679	5,669	SH		SOLE		0	0	5,669
UNITED RENTALS INC	COMMON	911363109	3,934	31,559	SH		SOLE		0	0	31,559
UNITED TECHNOLOGIES CORP	COMMON	913017109	1,593	11,670	SH		SOLE		0	0	11,670
UNITEDHEALTH GROUP INC	COMMON	91324P102	14,087	64,822	SH		SOLE		4,950	0	59,872
US BANCORP NEW	COMMON	902973304	85,999	1,554,020	SH		SOLE		114,260	0	1,439,760
V F CORP	COMMON	918204108	4,417	49,632	SH		SOLE		1,020	0	48,612
VALERO ENERGY CORP NEW	COMMON	91913Y100	6,511	76,389	SH		SOLE		0	0	76,389
VERISK ANALYTICS INC	COMMON	92345Y106	24,553	155,262	SH		SOLE		0	0	155,262
VERIZON COMMUNICATIONS INC	COMMON	92343V104	2,487	41,210	SH		SOLE		0	0	41,210
VISA INC CL A	COMMON	92826C839	105,202	611,603	SH		SOLE		56,299	0	555,304
VULCAN MATERIALS CO	COMMON	929160109	10,363	68,522	SH		SOLE		510	0	68,012
WALMART INC	COMMON	931142103	1,434	12,085	SH		SOLE		0	0	12,085
WALT DISNEY CO	COMMON	254687106	54,760	420,196	SH		SOLE		43,248	0	376,948
WASTE MANAGEMENT INC	COMMON	94106L109	612	5,321	SH		SOLE		0	0	5,321
WELLS FARGO CO NEW	COMMON	949746101	1,165	23,100	SH		SOLE		0	0	23,100
XPO LOGISTICS INC	COMMON	983793100	69,073	965,117	SH		SOLE		98,512	0	866,605
YELP INC CL A	COMMON	985817105	24,536	706,072	SH		SOLE		27,902	0	678,170
YUM BRANDS INC	COMMON	988498101	1,828	16,118	SH		SOLE		0	0	16,118
ZIMMER BIOMET HOLDINGS INC	COMMON	98956P102	48,327	352,055	SH		SOLE		31,750	0	320,305
ZIONS BANCORPORATION N A	COMMON	989701107	9,501	213,407	SH		SOLE		8,112	0	205,295
ZOETIS INC CL A	COMMON	98978V103	2,260	18,140	SH		SOLE		0	0	18,140