0001034642-16-000008.txt : 20160810 0001034642-16-000008.hdr.sgml : 20160810 20160810115039 ACCESSION NUMBER: 0001034642-16-000008 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160630 FILED AS OF DATE: 20160810 DATE AS OF CHANGE: 20160810 EFFECTIVENESS DATE: 20160810 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CLIFFORD SWAN INVESTMENT COUNSEL LLC CENTRAL INDEX KEY: 0001034642 IRS NUMBER: 954749812 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-06208 FILM NUMBER: 161820584 BUSINESS ADDRESS: STREET 1: 177 E. COLORADO BLVD STREET 2: SUITE 550 CITY: PASADENA STATE: CA ZIP: 91105 BUSINESS PHONE: 6267922228 MAIL ADDRESS: STREET 1: 177 E. COLORADO BLVD STREET 2: SUITE 550 CITY: PASADENA STATE: CA ZIP: 91105 FORMER COMPANY: FORMER CONFORMED NAME: CLIFFORD ASSOCIATES LLC DATE OF NAME CHANGE: 19991223 FORMER COMPANY: FORMER CONFORMED NAME: CLIFFORD ASSOCIATES INC/CA DATE OF NAME CHANGE: 19990326 13F-HR 1 primary_doc.xml 13F-HR LIVE false false false 0001034642 XXXXXXXX 06-30-2016 06-30-2016 CLIFFORD SWAN INVESTMENT COUNSEL LLC
177 E. COLORADO BLVD SUITE 550 PASADENA CA 91105
13F HOLDINGS REPORT 028-06208 N
Peter J. Boyle Principal 626-792-2228 Peter J. Boyle Pasadena CA 08-10-2016 0 262 1445351 false
INFORMATION TABLE 2 0616inftable.xml FORM 13F FOR THE QUATER ENDED 06-30-16 Flaherty & Crumrine PFD INCM O ETF 33848E106 156 12500 SH SOLE 12500 0 0 iShares Barclays 1-3 Year Cred ETF 464288646 334 3150 SH SOLE 1455 0 1695 iShares Core U.S. Aggregate Bo ETF 464287226 265 2350 SH SOLE 2350 0 0 iShares iBoxx $ Inv Grade Corp ETF 464287242 338 2750 SH SOLE 1000 0 1750 Nuveen Preferred Securities In ETF 67072C105 177 19166 SH SOLE 19166 0 0 PIMCO Enhanced Short Maturity ETF 72201R833 4440 43887 SH SOLE 39587 0 4300 PIMCO High Income Fund ETF 722014107 473 48590 SH SOLE 4090 0 44500 SPDR DoubleLine Total Return T ETF 78467v848 4293 86000 SH SOLE 68800 0 17200 Vanguard Int Term Bond ETF ETF 921937819 1715 19470 SH SOLE 1645 0 17825 Vanguard Int Term Corp Bond ET ETF 92206C870 510 5700 SH SOLE 1625 0 4075 Vanguard Short Term Bond ETF ETF 921937827 609 7514 SH SOLE 2930 0 4584 Vanguard Short Term Corp Bond ETF 92206C409 10745 132922 SH SOLE 96329 0 36593 Vanguard Total Bond Market ETF ETF 921937835 969 11490 SH SOLE 408 0 11082 Western Asset High Income Oppo ETF 95766K109 120 24395 SH SOLE 24395 0 0 Western Asset Income Fund ETF 95766T100 1700 119904 SH SOLE 83429 0 36475 Western Asset Premier Bond Fun ETF 957664105 162 12175 SH SOLE 7400 0 4775 Guggenheim S&P 500 Equal Wt In ETF 78355W106 204 2538 SH SOLE 2538 0 0 iShares Core S&P Mid-Cap ETF ETF 464287507 220 1475 SH SOLE 1455 0 20 iShares Core S&P Small-Cap ETF ETF 464287804 384 3307 SH SOLE 3307 0 0 iShares DJ US Housing ETF 464288752 633 22900 SH SOLE 22900 0 0 iShares North American Tech ETF 464287549 313 2850 SH SOLE 2600 0 250 iShares Russell 2000 Index ETF 464287655 2572 22373 SH SOLE 21113 0 1260 iShares Tr S&P 100 ETF 464287101 225 2425 SH SOLE 2425 0 0 Kayne Anderson MLP Inv Com ETF 486606106 503 24700 SH SOLE 500 0 24200 PowerShares QQQ Trust Ser 1 ETF 73935A104 316 2935 SH SOLE 2355 0 580 Select Sector SPDR Utilities ETF 81369Y886 344 6550 SH SOLE 5400 0 1150 SPDR Dow Jones Industrial Avg ETF 78467X109 300 1675 SH SOLE 925 0 750 SPDR S&P Dividend ETF ETF 78464A763 600 7148 SH SOLE 5548 0 1600 SPDR S&P MidCap 400 ETF 78467Y107 716 2630 SH SOLE 2235 0 395 SPDR Trust Series 1 (spy) ETF 78462F103 2425 11575 SH SOLE 10535 0 1040 Tortoise Energy Infr ETF 89147L100 287 9330 SH SOLE 7130 0 2200 Vanguard REIT ETF ETF 922908553 398 4493 SH SOLE 4383 0 110 Vanguard Total Stock Market ET ETF 922908769 416 3886 SH SOLE 3236 0 650 Vanguard World Fds Inf Tech ET ETF 92204A702 321 3000 SH SOLE 3000 0 0 iShares MSCI EAFE Index Fund ETF 464287465 908 16266 SH SOLE 11500 0 4766 iShares MSCI Emerging Markets ETF 464287234 926 26959 SH SOLE 23835 0 3124 Vanguard FTSE All World ex US ETF 922042775 333 7775 SH SOLE 6000 0 1775 Vanguard FTSE Emerging Markets ETF 922042858 498 14134 SH SOLE 14134 0 0 21st Century Fox Class A COM 90130a101 543 20060 SH SOLE 20006 0 54 3M Company COM 88579Y101 13663 78022 SH SOLE 57997 0 20025 Abbott Labs COM 002824100 12553 319323 SH SOLE 279701 0 39622 AbbVie Inc. COM 00287Y109 12558 202851 SH SOLE 179053 0 23798 Accenture PLC COM G1151C101 30856 272366 SH SOLE 240109 0 32257 Ace Limited COM H1467J104 728 5570 SH SOLE 5570 0 0 Agilent Technologies Inc. COM 00846U101 10263 231366 SH SOLE 227245 0 4121 Albemarle Corp. COM 012653101 3093 39000 SH SOLE 39000 0 0 Allegion Plc COM G0176J109 379 5464 SH SOLE 4597 0 867 Allergan Inc COM G0177J108 994 4301 SH SOLE 4081 0 220 Allstate Corp. COM 020002101 316 4511 SH SOLE 4511 0 0 Alphabet Inc Class A COM 02079K305 9614 13666 SH SOLE 12314 0 1352 Alphabet Inc Class C COM 02079K107 5493 7936 SH SOLE 7021 0 915 Altria Group, Inc. COM 02209S103 8873 128675 SH SOLE 96446 0 32229 Amazon Com Inc COM 023135106 5361 7492 SH SOLE 7159 0 333 Ameren Corp. COM 023608102 206 3837 SH SOLE 2587 0 1250 America Movil S.A. de C.V. Ser COM 02364W105 199 16210 SH SOLE 16210 0 0 American Express Co. COM 025816109 4994 82186 SH SOLE 71461 0 10725 Amgen, Inc. COM 031162100 8270 54353 SH SOLE 43887 0 10466 Anadarko Petroleum Corp COM 032511107 229 4296 SH SOLE 4296 0 0 Apache Corp COM 037411105 3195 57388 SH SOLE 51737 0 5651 Apple Inc. COM 037833100 34378 359604 SH SOLE 320470 0 39134 Arena Pharmaceuticals COM 040047102 40 23628 SH SOLE 23628 0 0 Astrazeneca PLC - Spons ADR COM 046353108 302 10000 SH SOLE 10000 0 0 AT&T Inc. COM 00206R102 7328 169580 SH SOLE 145180 0 24400 Automatic Data Proc. COM 053015103 7766 84534 SH SOLE 60067 0 24467 Bank of America Corp COM 060505104 1294 97538 SH SOLE 96249 0 1289 Bank of New York Mellon Corp. COM 064058100 17114 440503 SH SOLE 402468 0 38035 Bard (C.R.) COM 067383109 10180 43291 SH SOLE 40118 0 3173 Baxter International Inc COM 071813109 684 15137 SH SOLE 12987 0 2150 Becton Dickinson & Co. COM 075887109 2019 11904 SH SOLE 904 0 11000 Bed Bath & Beyond COM 075896100 5117 118385 SH SOLE 111420 0 6965 Bemis Company COM 081437105 256 4965 SH SOLE 4965 0 0 Berkshire Hathaway (100=1 Clas COM 084990175 2170 1000 SH SOLE 1000 0 0 Berkshire Hathaway A COM 084670108 3472 16 SH SOLE 16 0 0 Berkshire Hathaway B COM 084670702 36891 254790 SH SOLE 222575 0 32215 Boeing Co. COM 097023105 16281 125365 SH SOLE 115531 0 9834 Boswell J G Co COM 101205102 355 555 SH SOLE 555 0 0 BP PLC - Spons ADR COM 055622104 6694 188511 SH SOLE 147755 0 40756 Bristol-Myers Squibb Co. COM 110122108 7170 97484 SH SOLE 70161 0 27323 Campbell Soup Co. COM 134429109 633 9520 SH SOLE 9520 0 0 Casey's General Stores COM 147528103 1621 12325 SH SOLE 10875 0 1450 Caterpillar Inc. COM 149123101 5101 67282 SH SOLE 57175 0 10107 Cathay Intl Hld COM G1965E103 4 19000 SH SOLE 19000 0 0 CDK Global Inc. COM 12508e101 627 11299 SH SOLE 8951 0 2348 Cedar Fair L.P. COM 150185106 241 4160 SH SOLE 3610 0 550 Cerner COM 156782104 3248 55429 SH SOLE 43243 0 12186 Chevron Corp. COM 166764100 29775 284031 SH SOLE 232100 0 51930 Cisco Systems, Inc. COM 17275R102 13659 476105 SH SOLE 403817 0 72288 Clorox Company COM 189054109 2774 20042 SH SOLE 14489 0 5553 Coach, Inc. COM 189754104 14838 364200 SH SOLE 329131 0 35069 Coca-Cola Company COM 191216100 3530 77880 SH SOLE 75755 0 2125 Colgate-Palmolive Co. COM 194162103 24002 327895 SH SOLE 302772 0 25123 Comcast Corp. Class A COM 20030N101 615 9434 SH SOLE 8822 0 612 Conagra Inc. COM 205887102 252 5266 SH SOLE 5266 0 0 ConocoPhillips COM 20825C104 12158 278862 SH SOLE 252094 0 26768 Consolidated Edison Inc. COM 209115104 1012 12578 SH SOLE 7778 0 4800 Costco Wholesale Corp. COM 22160K105 34323 218562 SH SOLE 190786 0 27776 CSX Corporation COM 126408103 201 7724 SH SOLE 7724 0 0 Cummins Inc COM 231021106 2530 22497 SH SOLE 9097 0 13400 CVS Health Corp. COM 126650100 295 3085 SH SOLE 1285 0 1800 Deere & Co. COM 244199105 664 8190 SH SOLE 7790 0 400 Discovery Communications Ser. COM 25470F302 8854 371252 SH SOLE 350559 0 20693 Dominion Resources Inc. COM 25746U109 323 4144 SH SOLE 4144 0 0 Dow Chemical Company COM 260543103 569 11446 SH SOLE 10175 0 1271 DTE Energy Company COM 233331107 373 3768 SH SOLE 3768 0 0 Du Pont E I De Nemours COM 263534109 1444 22283 SH SOLE 20096 0 2187 Duke Energy Corp. New COM 26441C204 712 8304 SH SOLE 6061 0 2243 Eaton Corp. PLC COM G29183103 690 11555 SH SOLE 11555 0 0 eBay Inc. COM 278642103 6644 283801 SH SOLE 241686 0 42115 Ecolab, Inc. COM 278865100 2021 17043 SH SOLE 15743 0 1300 Edgewell Personal Care Co COM 28035Q102 1159 13729 SH SOLE 13729 0 0 Edison International COM 281020107 755 9716 SH SOLE 9716 0 0 Edwards Lifesciences Corp. COM 28176E108 14125 141631 SH SOLE 135298 0 6333 Electronic Arts COM 285512109 237 3130 SH SOLE 3130 0 0 EMC Corporation COM 268648102 3256 119829 SH SOLE 109234 0 10595 Emerson Electric Co. COM 291011104 19049 365197 SH SOLE 290003 0 75194 Enbridge Energy Management COM 29250X103 324 14076 SH SOLE 13206 0 870 Enbridge Energy Partners LP COM 29250R106 1224 52756 SH SOLE 43606 0 9150 Energizer Holdings Inc New COM 29272W109 715 13883 SH SOLE 13883 0 0 Equity Residential COM 29476L107 595 8634 SH SOLE 6334 0 2300 Essex Property Trust COM 297178105 2603 11411 SH SOLE 8266 0 3145 Exelon Corp COM 30161N101 254 6997 SH SOLE 3518 0 3479 Expeditors Int'l Of Washington COM 302130109 937 19097 SH SOLE 18797 0 300 Express Scripts Holding Compan COM 30219G108 490 6469 SH SOLE 6188 0 281 ExxonMobil Corporation COM 30231G102 48634 518816 SH SOLE 426546 0 92270 Facebook Inc COM 30303M102 519 4544 SH SOLE 3989 0 555 Farmers and Merchants Bank COM 308243104 372 60 SH SOLE 60 0 0 Fastenal Co. COM 311900104 12467 280857 SH SOLE 249869 0 30988 FirstEnergy Corp. COM 337932107 298 8546 SH SOLE 7546 0 1000 Flextronics International Ltd. COM Y2573F102 2366 200500 SH SOLE 182475 0 18025 Franklin Resources Inc COM 354613101 9899 296641 SH SOLE 262681 0 33960 Frontier Communications Corp. COM 35906A108 80 16266 SH SOLE 9894 0 6372 Gap Inc. Del COM 364760108 5098 240265 SH SOLE 213415 0 26850 General Electric COM 369604103 37725 1198374 SH SOLE 1009230 0 189144 General Mills Inc. COM 370334104 315 4423 SH SOLE 4123 0 300 Gilead Sciences Inc COM 375558103 20928 250877 SH SOLE 229812 0 21065 GlaxoSmithKline PLC-ADR COM 37733W105 411 9475 SH SOLE 6675 0 2800 Goldman Sachs Group Inc. COM 38141G104 4482 30168 SH SOLE 27453 0 2715 Grainger Inc., W.W. COM 384802104 352 1548 SH SOLE 928 0 620 Hain Celestial Group Inc. COM 405217100 4923 98956 SH SOLE 90783 0 8173 Harris & Harris Grp COM 413833104 39 24000 SH SOLE 24000 0 0 Hennessy Advisors Inc COM 425885100 452 13500 SH SOLE 13500 0 0 Hewlett Packard Enterprise Co COM 42824C109 15592 853419 SH SOLE 837105 0 16314 Home Depot, Inc. COM 437076102 6688 52377 SH SOLE 41177 0 11200 Honeywell Int'l Inc. COM 438516106 11021 94749 SH SOLE 93849 0 900 HP Inc. COM 40434L105 10590 843819 SH SOLE 831905 0 11914 Illinois Tool Works Inc. COM 452308109 6030 57892 SH SOLE 48432 0 9460 Infusystem Holdings Inc COM 45685K102 55 21000 SH SOLE 21000 0 0 Ingersoll-Rand PLC COM G47791101 1868 29328 SH SOLE 25338 0 3990 Intel Corp. COM 458140100 21186 645909 SH SOLE 554554 0 91355 International Bus Mach COM 459200101 21197 139658 SH SOLE 113663 0 25995 Intuit Inc. COM 461202103 8281 74196 SH SOLE 60791 0 13405 Intuitive Surgical Inc. COM 46120E602 228 345 SH SOLE 275 0 70 Jacobs Engineering Group Inc. COM 469814107 9232 185351 SH SOLE 169335 0 16016 Johnson & Johnson COM 478160104 40407 333115 SH SOLE 275321 0 57793 Johnson Controls Inc. COM 478366107 15220 343880 SH SOLE 312298 0 31582 JPMorgan Chase & Co. COM 46625H100 16586 266914 SH SOLE 212560 0 54354 Kellogg Co. COM 487836108 1622 19870 SH SOLE 4220 0 15650 Keysight Technologies, Inc. COM 49338L103 3084 106001 SH SOLE 104532 0 1469 Kimberly-Clark Corp. COM 494368103 1298 9443 SH SOLE 9203 0 240 Kohls Corp COM 500255104 576 15188 SH SOLE 12788 0 2400 Kraft Heinz Co Com COM 500754106 1992 22517 SH SOLE 17323 0 5194 Laboratory Corp. of America COM 50540R409 3407 26152 SH SOLE 24862 0 1290 Las Vegas Sands COM 517834107 567 13045 SH SOLE 11585 0 1460 Lilly Eli & Co. COM 532457108 464 5890 SH SOLE 2200 0 3690 Lincoln National Corp. COM 534187109 367 9465 SH SOLE 9465 0 0 Lockheed Martin Corp. COM 539830109 4447 17918 SH SOLE 17918 0 0 Lowe's Companies COM 548661107 27054 341715 SH SOLE 300366 0 41349 Magellan Midstream Partners COM 559080106 2702 35547 SH SOLE 28144 0 7403 Marsh & McLennan Companies COM 571748102 1383 20200 SH SOLE 3525 0 16675 Mastercard Inc-Cl A COM 57636Q104 601 6830 SH SOLE 6830 0 0 McDonald's Corp. COM 580135101 14287 118722 SH SOLE 95500 0 23222 Medtronic Plc. COM g5960l103 1297 14945 SH SOLE 13909 0 1036 Merck & Co., Inc. New COM 58933Y105 4484 77829 SH SOLE 65904 0 11925 Mercury General Ins COM 589400100 695 13080 SH SOLE 9515 0 3565 Meredith Corp. COM 589433101 799 15400 SH SOLE 3400 0 12000 Microsoft Corp. COM 594918104 23794 464998 SH SOLE 387283 0 77715 Minerals Technologies Inc. COM 603158106 859 15130 SH SOLE 13630 0 1500 Mondelez International COM 609207105 3923 86204 SH SOLE 58603 0 27601 Monsanto Company COM 61166W101 16346 158074 SH SOLE 147033 0 11041 Monster Beverage Corp. COM 611740101 257 1600 SH SOLE 1600 0 0 Moody's Corporation COM 615369105 361 3849 SH SOLE 3849 0 0 MSA Safety Inc. COM 553498106 674 12840 SH SOLE 12405 0 435 Nestle Sponsored ADR COM 641069406 1047 13545 SH SOLE 12385 0 1160 Netapp, Inc COM 64110D104 3223 131075 SH SOLE 125600 0 5475 NewMarket Corp COM 651587107 3522 8500 SH SOLE 8500 0 0 NextEra Energy Inc. COM 65339F101 843 6465 SH SOLE 4565 0 1900 Nike, Inc. COM 654106103 8494 153878 SH SOLE 131598 0 22280 Nordstrom Inc. COM 655664100 2498 65647 SH SOLE 59547 0 6100 Norfolk Southern Corp. COM 655844108 775 9105 SH SOLE 7505 0 1600 Northrop Grumman Corp. COM 666807102 5682 25563 SH SOLE 25563 0 0 Novartis AG ADS COM 66987V109 8481 102790 SH SOLE 92398 0 10392 Novo Nordisk ADR COM 670100205 11886 221013 SH SOLE 203638 0 17375 Nucor Corp. COM 670346105 3104 62822 SH SOLE 58262 0 4560 Occidental Petroleum COM 674599105 735 9727 SH SOLE 9727 0 0 Oneok Partners LP COM 68268N103 2189 54650 SH SOLE 45440 0 9210 Oracle Systems COM 68389X105 21828 533301 SH SOLE 473738 0 59563 Paccar Inc. COM 693718108 231 4450 SH SOLE 4450 0 0 Paychex Inc COM 704326107 238 4000 SH SOLE 3000 0 1000 Paypal Hldgs Inc Com COM 70450Y103 10758 294669 SH SOLE 267618 0 27051 PepsiCo Inc. COM 713448108 17302 163315 SH SOLE 127470 0 35845 Pfizer, Inc. COM 717081103 17304 491454 SH SOLE 403947 0 87507 Philip Morris Intl COM 718172109 14540 142942 SH SOLE 112280 0 30662 Phillips 66 COM 718546104 1172 14775 SH SOLE 9423 0 5352 Plains All American Pipeline L COM 726503105 1840 66917 SH SOLE 52320 0 14597 PPG Industries, Inc. COM 693506107 731 7018 SH SOLE 5686 0 1332 Procter & Gamble Co. COM 742718109 20808 245754 SH SOLE 188949 0 56805 Profile technologies - NO No COM 743164105 0 13500 SH SOLE 13500 0 0 PS Business Parks Inc COM 69360J107 515 4854 SH SOLE 4854 0 0 Public Storage COM 74460D109 10943 42813 SH SOLE 29313 0 13500 Qualcomm, Inc COM 747525103 15215 284021 SH SOLE 235406 0 48615 Raytheon Company COM 755111507 242 1783 SH SOLE 1683 0 100 Realty Income Corp. COM 756109104 2109 30408 SH SOLE 28108 0 2300 Roche Dividend Right Cert COM 771192895 262 1000 SH SOLE 1000 0 0 Roche Holdings Ltd-Spons ADR COM 771195104 249 7565 SH SOLE 7565 0 0 Rockwell Automation, Inc. COM 773903109 450 3918 SH SOLE 3618 0 300 Rockwell Collins COM 774341101 246 2887 SH SOLE 2587 0 300 Royal Dutch Shell PLC-ADR A COM 780259206 1178 21338 SH SOLE 20273 0 1065 S&P Global Inc COM 78409V104 798 7440 SH SOLE 1900 0 5540 Schlumberger Ltd COM 806857108 30496 385629 SH SOLE 322873 0 62756 Sempra Energy COM 816851109 818 7174 SH SOLE 6374 0 800 Shire Plc-ADR COM 82481R106 395 2144 SH SOLE 1848 0 296 Simpson Manufacturing Co COM 829073105 644 16112 SH SOLE 16112 0 0 Southern Company COM 842587107 634 11825 SH SOLE 4000 0 7825 Sovran Self Storage COM 84610H108 850 8100 SH SOLE 8100 0 0 Spectra Energy Corp COM 847560109 215 5876 SH SOLE 3826 0 2050 St Jude Medical Inc. COM 790849103 580 7433 SH SOLE 1708 0 5725 Starbucks Corp. COM 855244109 589 10320 SH SOLE 7610 0 2710 Stericycle, Inc. COM 858912108 4094 39320 SH SOLE 31995 0 7325 Stryker Corporation COM 863667101 21071 175840 SH SOLE 156522 0 19318 Sysco Corp. COM 871829107 12134 239147 SH SOLE 179840 0 59307 T. Rowe Price Group COM 74144T108 220 3020 SH SOLE 3020 0 0 Target Corp COM 87612E106 3911 56011 SH SOLE 48646 0 7365 Teva Pharmaceutical Industries COM 881624209 2823 56209 SH SOLE 53694 0 2515 Texas Instruments COM 882508104 3186 50848 SH SOLE 43601 0 7247 The Walt Disney Company COM 254687106 10236 104643 SH SOLE 93198 0 11445 TJX Companies COM 872540109 3366 43588 SH SOLE 39438 0 4150 Torchmark Corp COM 891027104 204 3295 SH SOLE 3295 0 0 Transocean Ltd. COM H8817H100 1637 137665 SH SOLE 127279 0 10386 Tredegar Corporation COM 894650100 258 16000 SH SOLE 16000 0 0 U.S. Bancorp COM 902973304 562 13934 SH SOLE 13134 0 800 Unilever N V COM 904784709 455 9686 SH SOLE 9686 0 0 Union Pacific COM 907818108 7208 82617 SH SOLE 76062 0 6555 United Parcel Service COM 911312106 51125 474606 SH SOLE 453642 0 20964 United Technologies COM 913017109 11622 113327 SH SOLE 105942 0 7385 UnitedHealth Group Inc. COM 91324P102 1055 7470 SH SOLE 7470 0 0 Valmont Industries Inc. COM 920253101 690 5100 SH SOLE 5100 0 0 Verizon Comm. COM 92343V104 8672 155303 SH SOLE 136468 0 18835 Visa Inc. COM 92826C839 214 2892 SH SOLE 2892 0 0 Vodafone Group PLC New COM 92857w308 3295 106667 SH SOLE 95341 0 11326 Wal-Mart Stores, Inc. COM 931142103 11343 155343 SH SOLE 125205 0 30138 Walgreens Boots Alliance Inc. COM 931427108 12924 155211 SH SOLE 136587 0 18624 Wec Energy Group Inc COM 92939U106 988 15126 SH SOLE 4064 0 11062 Wells Fargo & Co. COM 949746101 32460 685828 SH SOLE 638156 0 47672 Weyerhaeuser Co. COM 962166104 1282 43067 SH SOLE 42880 0 187 Whole Food Markets COM 966837106 4377 136699 SH SOLE 119039 0 17660 Zimmer Biomet Hldgs Inc Com COM 98956P102 386 3206 SH SOLE 2466 0 740 Deutsche Enhanced Commodity St AA 25159L836 1057 82554 SH SOLE 82554 0 0 iPath Dow Jones UBS Commodity AA 06738C778 359 14500 SH SOLE 14500 0 0 iShares Gold Trust AA 464285105 228 17860 SH SOLE 17860 0 0 SPDR Gold Trust AA 78463V107 1831 14475 SH SOLE 13333 0 1142 Sprott Physical Gold Trust ETV AA 85207h104 231 21000 SH SOLE 21000 0 0 Sprott Physical Silver Trust E AA 85207k107 111 15250 SH SOLE 15250 0 0