0001085146-16-004123.txt : 20160802 0001085146-16-004123.hdr.sgml : 20160802 20160802130255 ACCESSION NUMBER: 0001085146-16-004123 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160630 FILED AS OF DATE: 20160802 DATE AS OF CHANGE: 20160802 EFFECTIVENESS DATE: 20160802 FILER: COMPANY DATA: COMPANY CONFORMED NAME: WELCH & FORBES LLC CENTRAL INDEX KEY: 0000105495 IRS NUMBER: 043573806 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-00262 FILM NUMBER: 161799751 BUSINESS ADDRESS: STREET 1: 45 SCHOOL STREET CITY: BOSTON STATE: MA ZIP: 02108 BUSINESS PHONE: 617-523-1635 MAIL ADDRESS: STREET 1: 45 SCHOOL STREET CITY: BOSTON STATE: MA ZIP: 02108 FORMER COMPANY: FORMER CONFORMED NAME: WELCH & FORBES INC DATE OF NAME CHANGE: 19970304 13F-HR 1 primary_doc.xml 13F-HR LIVE false false false 0000105495 XXXXXXXX 06-30-2016 06-30-2016 false WELCH & FORBES LLC

45 SCHOOL STREET BOSTON MA 02108

13F HOLDINGS REPORT 028-00262 N Todd Jundi 617-557-9878 /s/ Todd Jundi Boston MA 08-01-2016 1 354 3281435 1 0001044916 028-06476 LOWELL WILLIAM A INFORMATION TABLE 2 form13fInfoTable.xml DESCRIPTION FOR INFORMATION TABLE 3M CO COM 88579Y101 45028 257123 SH SOLE 244202 0 12921 ABB LTD SPONSORED ADR 000375204 880 44350 SH SOLE 41850 0 2500 ABBOTT LABS COM 002824100 25639 652227 SH SOLE 612407 0 39820 ABBVIE INC COM 00287Y109 31314 505801 SH SOLE 481851 0 23950 ACCENTURE PLC IRELAND SHS CLASS A G1151C101 283 2495 SH SOLE 2195 0 300 ADOBE SYS INC COM 00724F101 984 10274 SH SOLE 10215 0 59 AETNA INC NEW COM 00817Y108 690 5650 SH SOLE 5650 0 0 AFFILIATED MANAGERS GROUP COM 008252108 574 4074 SH SOLE 3374 0 700 AFLAC INC COM 001055102 32473 450016 SH SOLE 401791 0 48225 AGILENT TECHNOLOGIES INC COM 00846U101 300 6760 SH SOLE 6760 0 0 AIR PRODS & CHEMS INC COM 009158106 7570 53290 SH SOLE 51240 0 2050 AKAMAI TECHNOLOGIES INC COM 00971T101 1796 32110 SH SOLE 29310 0 2800 ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 412 5180 SH SOLE 5180 0 0 ALLERGAN PLC SHS G0177J108 15873 68690 SH SOLE 59715 0 8975 ALLIANT ENERGY CORP COM 018802108 2449 61700 SH SOLE 61700 0 0 ALLIQUA BIOMEDICAL INC COM NEW 019621200 13 11284 SH SOLE 11284 0 0 ALLSTATE CORP COM 020002101 695 9940 SH SOLE 9940 0 0 ALPHABET INC CAP STK CL A 02079K305 21605 30708 SH SOLE 27400 0 3308 ALPHABET INC CAP STK CL C 02079K107 21 30 SH OTR 30 0 0 ALPHABET INC CAP STK CL C 02079K107 35980 51987 SH SOLE 45005 0 6982 ALTRIA GROUP INC COM 02209S103 2045 29657 SH SOLE 28227 0 1430 AMAZON COM INC COM 023135106 1207 1686 SH SOLE 1681 0 5 AMERICAN ELEC PWR INC COM 025537101 257 3672 SH SOLE 3372 0 300 AMERICAN EXPRESS CO COM 025816109 2542 41840 SH SOLE 40340 0 1500 AMERICAN TOWER CORP NEW COM 03027X100 265 2331 SH SOLE 991 0 1340 AMERICAN WTR WKS CO INC NEW COM 030420103 533 6301 SH SOLE 3950 0 2351 AMERIPRISE FINL INC COM 03076C106 13158 146436 SH SOLE 119903 0 26533 AMGEN INC COM 031162100 6076 39935 SH SOLE 39650 0 285 ANADARKO PETE CORP COM 032511107 3200 60085 SH SOLE 54200 0 5885 ANALOG DEVICES INC COM 032654105 1416 24995 SH SOLE 21695 0 3300 ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 27685 210240 SH SOLE 191420 0 18820 ANNALY CAP MGMT INC COM 035710409 159 14400 SH SOLE 10200 0 4200 ANSYS INC COM 03662Q105 51387 566244 SH SOLE 509889 0 56355 APACHE CORP COM 037411105 2026 36392 SH SOLE 28292 0 8100 APPLE INC COM 037833100 57391 600320 SH SOLE 541023 0 59297 AQUA AMERICA INC COM 03836W103 598 16789 SH SOLE 16789 0 0 AT&T INC COM 00206R102 21717 502598 SH SOLE 491514 0 11084 ATMOS ENERGY CORP COM 049560105 315 3874 SH SOLE 3874 0 0 AUTOMATIC DATA PROCESSING IN COM 053015103 55 600 SH OTR 600 0 0 AUTOMATIC DATA PROCESSING IN COM 053015103 25635 279029 SH SOLE 250328 0 28701 BANK AMER CORP COM 060505104 9810 739334 SH SOLE 544261 0 195073 BANK N S HALIFAX COM 064149107 1965 40095 SH SOLE 38850 0 1245 BANK NEW YORK MELLON CORP COM 064058100 261 6714 SH SOLE 5960 0 754 BANK OF NOVA SCOTIA NOTE 4.500%12/1 064159HB5 52 50000 PRN SOLE 50000 0 0 BARRICK GOLD CORP COM 067901108 1311 61359 SH SOLE 54809 0 6550 BAXTER INTL INC COM 071813109 522 11550 SH SOLE 10950 0 600 BB&T CORP COM 054937107 211 5920 SH SOLE 4920 0 1000 BECTON DICKINSON & CO COM 075887109 13294 78390 SH SOLE 73205 0 5185 BEMIS INC COM 081437105 1105 21454 SH SOLE 21454 0 0 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 13158 90870 SH SOLE 73020 0 17850 BIOGEN INC COM 09062X103 3686 15243 SH SOLE 11285 0 3958 BLACKROCK INC COM 09247X101 340 992 SH SOLE 892 0 100 BLACKROCK MUNI INTER DR FD I COM 09253X102 4262 279685 SH SOLE 279685 0 0 BOEING CO COM 097023105 1510 11629 SH SOLE 11404 0 225 BOSTON SCIENTIFIC CORP COM 101137107 9218 394450 SH SOLE 390450 0 4000 BP PLC SPONSORED ADR 055622104 5320 149790 SH SOLE 148890 0 900 BRISTOL MYERS SQUIBB CO COM 110122108 21052 286228 SH SOLE 276373 0 9855 BROADRIDGE FINL SOLUTIONS IN COM 11133T103 443 6802 SH SOLE 6802 0 0 CABOT OIL & GAS CORP COM 127097103 257 10000 SH SOLE 10000 0 0 CAMPBELL SOUP CO COM 134429109 1860 27953 SH SOLE 27953 0 0 CANADIAN NATL RY CO COM 136375102 490 8289 SH SOLE 8289 0 0 CAPITAL ONE FINL CORP COM 14040H105 19 300 SH OTR 300 0 0 CAPITAL ONE FINL CORP COM 14040H105 17320 272701 SH SOLE 229613 0 43088 CARDINAL HEALTH INC COM 14149Y108 1109 14216 SH SOLE 13816 0 400 CARMAX INC COM 143130102 53270 1086494 SH SOLE 970924 0 115570 CATERPILLAR INC DEL COM 149123101 5432 71652 SH SOLE 67371 0 4281 CDK GLOBAL INC COM 12508E101 587 10588 SH SOLE 10588 0 0 CDK GLOBAL INC COM 12508E101 11 200 SH OTR 200 0 0 CELGENE CORP COM 151020104 20 200 SH OTR 200 0 0 CELGENE CORP COM 151020104 22737 230525 SH SOLE 194547 0 35978 CENOVUS ENERGY INC COM 15135U109 1200 86824 SH SOLE 80564 0 6260 CENTRAL FD CDA LTD CL A 153501101 330 23734 SH SOLE 23734 0 0 CF INDS HLDGS INC COM 125269100 4744 196822 SH SOLE 178681 0 18141 CHARTER COMMUNICATIONS INC N CL A 16119P108 5572 24369 SH SOLE 24154 0 215 CHEVRON CORP NEW COM 166764100 29981 285991 SH SOLE 252062 0 33929 CHURCH & DWIGHT INC COM 171340102 16935 164594 SH SOLE 153694 0 10900 CIGNA CORPORATION COM 125509109 2104 16436 SH SOLE 16436 0 0 CINTAS CORP COM 172908105 4062 41399 SH SOLE 41399 0 0 CISCO SYS INC COM 17275R102 10111 352432 SH SOLE 260461 0 91971 CITIGROUP INC COM NEW 172967424 238 5623 SH SOLE 5623 0 0 CLAYMORE EXCHANGE TRD FD TR GUGGENHEIM SOLAR 18383Q739 203 9700 SH SOLE 9700 0 0 COCA COLA CO COM 191216100 21972 484694 SH SOLE 409425 0 75269 COGNEX CORP COM 192422103 12185 282717 SH SOLE 267360 0 15357 COLFAX CORP COM 194014106 577 21800 SH SOLE 21300 0 500 COLGATE PALMOLIVE CO COM 194162103 6448 88092 SH SOLE 70282 0 17810 COMCAST CORP NEW CL A 20030N101 26 400 SH OTR 400 0 0 COMCAST CORP NEW CL A 20030N101 19453 298390 SH SOLE 261957 0 36433 CONOCOPHILLIPS COM 20825C104 5394 123731 SH SOLE 97511 0 26220 CONSOLIDATED EDISON INC COM 209115104 262 3254 SH SOLE 2600 0 654 COPART INC COM 217204106 556 11350 SH SOLE 11350 0 0 COSTCO WHSL CORP NEW COM 22160K105 18712 119152 SH SOLE 109942 0 9210 CSX CORP COM 126408103 236 9048 SH SOLE 9048 0 0 CUMMINS INC COM 231021106 695 6180 SH SOLE 6180 0 0 CURTISS WRIGHT CORP COM 231561101 253 3000 SH SOLE 3000 0 0 CVS HEALTH CORP COM 126650100 29 300 SH OTR 300 0 0 CVS HEALTH CORP COM 126650100 51315 535984 SH SOLE 451497 0 84487 DANAHER CORP DEL COM 235851102 30 300 SH OTR 300 0 0 DANAHER CORP DEL COM 235851102 73290 725647 SH SOLE 654214 0 71433 DEERE & CO COM 244199105 619 7628 SH SOLE 7628 0 0 DENTSPLY SIRONA INC COM 24906P109 4662 75153 SH SOLE 73593 0 1560 DIAGEO P L C SPON ADR NEW 25243Q205 232 2055 SH SOLE 1875 0 180 DISNEY WALT CO COM DISNEY 254687106 7087 72444 SH SOLE 62394 0 10050 DOMINION RES INC VA NEW COM 25746U109 427 5482 SH SOLE 5482 0 0 DORCHESTER MINERALS LP COM UNIT 25820R105 281 19520 SH SOLE 19520 0 0 DOVER CORP COM 260003108 14319 206551 SH SOLE 205851 0 700 DOW CHEM CO COM 260543103 2070 41635 SH SOLE 41635 0 0 DU PONT E I DE NEMOURS & CO COM 263534109 3609 55701 SH SOLE 55701 0 0 DUKE ENERGY CORP NEW COM NEW 26441C204 8132 94798 SH SOLE 88997 0 5801 DUN & BRADSTREET CORP DEL NE COM 26483E100 1501 12321 SH SOLE 12321 0 0 E M C CORP MASS COM 268648102 968 35627 SH SOLE 27822 0 7805 EATON VANCE CORP COM NON VTG 278265103 1736 49102 SH SOLE 47102 0 2000 EATON VANCE TAX MNGD GBL DV COM 27829F108 87 10227 SH SOLE 727 0 9500 ECOLAB INC COM 278865100 45669 385064 SH SOLE 338994 0 46070 EDWARDS LIFESCIENCES CORP COM 28176E108 11819 118519 SH SOLE 112319 0 6200 EMERSON ELEC CO COM 291011104 9678 185545 SH SOLE 179362 0 6183 ENCANA CORP COM 292505104 252 32370 SH SOLE 31270 0 1100 ENTERPRISE PRODS PARTNERS L COM 293792107 932 31850 SH SOLE 23400 0 8450 EOG RES INC COM 26875P101 3162 37912 SH SOLE 35012 0 2900 EVERSOURCE ENERGY COM 30040W108 405 6756 SH SOLE 6756 0 0 EXPEDITORS INTL WASH INC COM 302130109 18730 381959 SH SOLE 359169 0 22790 EXPRESS SCRIPTS HLDG CO COM 30219G108 912 12038 SH SOLE 10766 0 1272 EXXON MOBIL CORP COM 30231G102 19 200 SH OTR 200 0 0 EXXON MOBIL CORP COM 30231G102 86608 923919 SH SOLE 887873 0 36046 FACEBOOK INC CL A 30303M102 14744 129014 SH SOLE 126299 0 2715 FIRST TR EXCHANGE TRADED FD NO AMER ENERGY 33738D101 35372 1433211 SH SOLE 1170464 0 262747 FIRST TR EXCHANGE TRADED FD SENIOR LN FD 33738D309 1111 23275 SH SOLE 20550 0 2725 FISERV INC COM 337738108 48549 446505 SH SOLE 389829 0 56676 FORMFACTOR INC COM 346375108 90 10000 SH SOLE 10000 0 0 FRANKLIN RES INC COM 354613101 501 15000 SH SOLE 15000 0 0 GARTNER INC COM 366651107 789 8100 SH SOLE 8100 0 0 GENERAL DYNAMICS CORP COM 369550108 353 2535 SH SOLE 2535 0 0 GENERAL ELECTRIC CO COM 369604103 61035 1938882 SH SOLE 1778538 0 160344 GENERAL MLS INC COM 370334104 8478 118872 SH SOLE 118380 0 492 GILEAD SCIENCES INC COM 375558103 24232 290486 SH SOLE 243932 0 46554 GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 28881 666393 SH SOLE 666393 0 0 GRAINGER W W INC COM 384802104 239 1050 SH SOLE 812 0 238 HAIN CELESTIAL GROUP INC COM 405217100 753 15145 SH SOLE 7545 0 7600 HALLIBURTON CO COM 406216101 608 13425 SH SOLE 13425 0 0 HANESBRANDS INC COM 410345102 652 25937 SH SOLE 15787 0 10150 HARTFORD FINL SVCS GROUP INC COM 416515104 237 5346 SH SOLE 5346 0 0 HELMERICH & PAYNE INC COM 423452101 282 4200 SH SOLE 4200 0 0 HENRY JACK & ASSOC INC COM 426281101 428 4900 SH SOLE 4900 0 0 HERSHEY CO COM 427866108 465 4100 SH SOLE 4100 0 0 HESS CORP COM 42809H107 270 4500 SH SOLE 4500 0 0 HOME DEPOT INC COM 437076102 56373 441481 SH SOLE 419120 0 22361 HONEYWELL INTL INC COM 438516106 983 8451 SH SOLE 8446 0 5 HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 14 500 SH OTR 500 0 0 HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 22421 778487 SH SOLE 724417 0 54070 HUBBELL INC COM 443510607 478 4530 SH SOLE 4530 0 0 ICICI BK LTD ADR 45104G104 79 11000 SH SOLE 11000 0 0 ICON PLC SHS G4705A100 1772 25295 SH SOLE 22345 0 2950 IDEXX LABS INC COM 45168D104 18404 198190 SH SOLE 193590 0 4600 ILLINOIS TOOL WKS INC COM 452308109 2337 22429 SH SOLE 21329 0 1100 ILLUMINA INC COM 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BD ETF 46429B655 316 6250 SH SOLE 0 0 6250 ISHARES TR IBOXX INV CP ETF 464287242 21935 178719 SH SOLE 169243 0 9476 ISHARES TR INTERM CR BD ETF 464288638 267 2400 SH SOLE 2400 0 0 ISHARES TR MSCI EAFE ETF 464287465 2019 36165 SH SOLE 35915 0 250 ISHARES TR MSCI EMG MKT ETF 464287234 2563 74609 SH SOLE 71699 0 2910 ISHARES TR RUS 1000 ETF 464287622 701 6000 SH SOLE 6000 0 0 ISHARES TR RUS 1000 GRW ETF 464287614 908 9050 SH SOLE 4750 0 4300 ISHARES TR RUS 1000 VAL ETF 464287598 367 3555 SH SOLE 1300 0 2255 ISHARES TR RUS 2000 GRW ETF 464287648 1238 9024 SH SOLE 8585 0 439 ISHARES TR RUS MID-CAP ETF 464287499 741 4404 SH SOLE 4204 0 200 ISHARES TR RUSSELL 2000 ETF 464287655 3949 34343 SH SOLE 31566 0 2777 ISHARES TR S&P 100 ETF 464287101 1039 11183 SH SOLE 8120 0 3063 ISHARES TR SELECT DIVID ETF 464287168 4877 57180 SH SOLE 55695 0 1485 ISHARES TR TIPS BD ETF 464287176 234 2000 SH SOLE 2000 0 0 ISHARES TR U.S. PFD STK ETF 464288687 4903 122896 SH SOLE 115101 0 7795 JOHNSON & JOHNSON COM 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4685 0 0 LOWES COS INC COM 548661107 2640 33342 SH SOLE 31767 0 1575 M & T BK CORP COM 55261F104 485 4100 SH SOLE 4100 0 0 MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 217 2850 SH SOLE 2850 0 0 MARATHON OIL CORP COM 565849106 402 26775 SH SOLE 26775 0 0 MARATHON PETE CORP COM 56585A102 1013 26674 SH SOLE 26674 0 0 MARSH & MCLENNAN COS INC COM 571748102 1287 18800 SH SOLE 18800 0 0 MASCO CORP COM 574599106 2325 75130 SH SOLE 75130 0 0 MCDONALDS CORP COM 580135101 41857 347825 SH SOLE 316626 0 31199 MEAD JOHNSON NUTRITION CO COM 582839106 2718 29946 SH SOLE 28956 0 990 MEDTRONIC PLC SHS G5960L103 7543 86938 SH SOLE 82106 0 4832 MERCK & CO INC COM 58933Y105 31808 552120 SH SOLE 529870 0 22250 METLIFE INC COM 59156R108 11648 292432 SH SOLE 233073 0 59359 METTLER TOLEDO INTERNATIONAL COM 592688105 26887 73679 SH SOLE 67229 0 6450 MICROSOFT CORP COM 594918104 49441 966203 SH SOLE 902257 0 63946 MID PENN BANCORP INC COM 59540G107 796 50044 SH SOLE 0 0 50044 MIDDLEBY CORP COM 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PLUG POWER INC COM NEW 72919P202 19 10250 SH SOLE 10250 0 0 PNC FINL SVCS GROUP INC COM 693475105 737 9047 SH SOLE 8447 0 600 POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 11895 517879 SH SOLE 477279 0 40600 POWERSHARES QQQ TRUST UNIT SER 1 73935A104 804 7476 SH SOLE 7451 0 25 PPG INDS INC COM 693506107 417 4000 SH SOLE 4000 0 0 PRA GROUP INC COM 69354N106 273 11300 SH SOLE 11150 0 150 PRAXAIR INC COM 74005P104 25565 227470 SH SOLE 207130 0 20340 PRICELINE GRP INC COM NEW 741503403 13607 10900 SH SOLE 9506 0 1394 PROCTER & GAMBLE CO COM 742718109 81033 957054 SH SOLE 889064 0 67990 PROGRESSIVE CORP OHIO COM 743315103 1890 56430 SH SOLE 56430 0 0 PUBLIC SVC ENTERPRISE GROUP COM 744573106 253 5436 SH SOLE 5436 0 0 QUALCOMM INC COM 747525103 14971 279477 SH SOLE 253337 0 26140 RAYTHEON CO COM NEW 755111507 24989 183805 SH SOLE 177840 0 5965 RESMED INC COM 761152107 18161 287221 SH SOLE 241716 0 45505 RIGNET INC COM 766582100 373 27877 SH SOLE 27877 0 0 ROCKWELL COLLINS INC COM 774341101 304 3568 SH SOLE 3568 0 0 ROPER TECHNOLOGIES INC COM 776696106 26 150 SH OTR 150 0 0 ROPER TECHNOLOGIES INC COM 776696106 20529 120360 SH SOLE 102915 0 17445 ROSS STORES INC COM 778296103 354 6243 SH SOLE 6243 0 0 ROYAL BK SCOTLAND GROUP PLC SP ADR L RP PF 780097788 2563 103371 SH SOLE 97371 0 6000 ROYAL BK SCOTLAND GROUP PLC SPON ADR SER H 780097879 501 19666 SH SOLE 18066 0 1600 ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 20 360 SH OTR 360 0 0 ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 1113 20153 SH SOLE 16478 0 3675 S&P GLOBAL INC COM 78409V104 622 5800 SH SOLE 5800 0 0 SCHLUMBERGER LTD COM 806857108 47970 606600 SH SOLE 537874 0 68726 SEALED AIR CORP NEW COM 81211K100 506 11000 SH SOLE 11000 0 0 SHERWIN WILLIAMS CO COM 824348106 5359 18247 SH SOLE 17666 0 581 SHIRE PLC SPONSORED ADR 82481R106 492 2673 SH SOLE 2673 0 0 SM ENERGY CO COM 78454L100 428 15850 SH SOLE 14250 0 1600 SNAP ON INC COM 833034101 201 1278 SH SOLE 750 0 528 SOUTHERN CO COM 842587107 584 10892 SH SOLE 9878 0 1014 SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 395 5645 SH SOLE 4520 0 1125 SPDR S&P 500 ETF TR TR UNIT 78462F103 7322 34955 SH SOLE 31760 0 3195 SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 18507 67986 SH SOLE 66031 0 1955 SPDR SERIES TRUST S&P 600 SML CAP 78464A813 256 2450 SH SOLE 2450 0 0 SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 192 17464 SH SOLE 17264 0 200 ST JUDE MED INC COM 790849103 411 5265 SH SOLE 5265 0 0 STANLEY BLACK & DECKER INC COM 854502101 5471 49199 SH SOLE 48054 0 1145 STAPLES INC COM 855030102 917 106339 SH SOLE 104539 0 1800 STARBUCKS CORP COM 855244109 6783 118755 SH SOLE 111555 0 7200 STATE STR CORP COM 857477103 15977 296318 SH SOLE 273068 0 23250 STERICYCLE INC COM 858912108 45306 435128 SH SOLE 401291 0 33837 STONEMOR PARTNERS L P COM UNITS 86183Q100 217 8650 SH SOLE 8650 0 0 STRYKER CORP COM 863667101 69425 579357 SH SOLE 522265 0 57092 SUN LIFE FINL INC COM 866796105 265 8060 SH SOLE 8060 0 0 SUNCOR ENERGY INC NEW COM 867224107 9704 349926 SH SOLE 318176 0 31750 SUNTRUST BKS INC COM 867914103 1147 27912 SH SOLE 27912 0 0 SYSCO CORP COM 871829107 51 1000 SH OTR 1000 0 0 SYSCO CORP COM 871829107 10081 198656 SH SOLE 194956 0 3700 TARGET CORP COM 87612E106 614 8800 SH SOLE 5109 0 3691 TELEFLEX INC COM 879369106 204 1150 SH SOLE 1150 0 0 TERRAVIA HLDGS INC COM 88105A106 33 12500 SH SOLE 12500 0 0 TEVA PHARMACEUTICAL INDS LTD ADR 881624209 805 16041 SH SOLE 15041 0 1000 TEXAS INSTRS INC COM 882508104 2094 33421 SH SOLE 33421 0 0 THERMO FISHER SCIENTIFIC INC COM 883556102 1685 11403 SH SOLE 11403 0 0 TIFFANY & CO NEW COM 886547108 1814 29920 SH SOLE 29770 0 150 TIME WARNER INC COM NEW 887317303 6111 83095 SH SOLE 78295 0 4800 TJX COS INC NEW COM 872540109 23 300 SH OTR 300 0 0 TJX COS INC NEW COM 872540109 27482 355843 SH SOLE 289816 0 66027 TORCHMARK CORP COM 891027104 218 3525 SH SOLE 3525 0 0 TORONTO DOMINION BK ONT COM NEW 891160509 16520 384808 SH SOLE 370198 0 14610 TRACTOR SUPPLY CO COM 892356106 13191 144673 SH SOLE 136268 0 8405 TRAVELERS COMPANIES INC COM 89417E109 419 3517 SH SOLE 3517 0 0 TWENTY FIRST CENTY FOX INC CL A 90130A101 244 9010 SH SOLE 9010 0 0 U S SILICA HLDGS INC COM 90346E103 2755 79925 SH SOLE 79925 0 0 UNILEVER N V N Y SHS NEW 904784709 502 10700 SH SOLE 10700 0 0 UNION PAC CORP COM 907818108 2533 29033 SH SOLE 28678 0 355 UNITED PARCEL SERVICE INC CL B 911312106 9332 86633 SH SOLE 83713 0 2920 UNITED TECHNOLOGIES CORP COM 913017109 21 200 SH OTR 200 0 0 UNITED TECHNOLOGIES CORP COM 913017109 78790 768315 SH SOLE 699222 0 69093 UNITEDHEALTH GROUP INC COM 91324P102 274 1940 SH SOLE 1940 0 0 US BANCORP DEL COM NEW 902973304 13777 341618 SH SOLE 328518 0 13100 VALERO ENERGY CORP NEW COM 91913Y100 251 4915 SH SOLE 4315 0 600 VANECK VECTORS ETF TR AGRIBUSINESS ETF 92189F700 552 11510 SH SOLE 11335 0 175 VANECK VECTORS ETF TR OIL SVCS ETF 92189F718 389 13300 SH SOLE 13300 0 0 VANGUARD BD INDEX FD INC INTERMED TERM 921937819 10709 121597 SH SOLE 111707 0 9890 VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 2611 32206 SH SOLE 22276 0 9930 VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 288 1500 SH SOLE 1500 0 0 VANGUARD INDEX FDS SMALL CP ETF 922908751 1678 14505 SH SOLE 14255 0 250 VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 5662 132136 SH SOLE 121405 0 10731 VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 1783 50628 SH SOLE 29278 0 21350 VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 1112 23840 SH SOLE 17640 0 6200 VANGUARD SCOTTSDALE FDS VNG RUS1000IDX 92206C730 482 5020 SH SOLE 5020 0 0 VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 5149 145614 SH SOLE 54670 0 90944 VARIAN MED SYS INC COM 92220P105 1675 20366 SH SOLE 19066 0 1300 VERIZON COMMUNICATIONS INC COM 92343V104 26595 476281 SH SOLE 403512 0 72769 VERTEX PHARMACEUTICALS INC COM 92532F100 17024 197902 SH SOLE 184151 0 13751 VISA INC COM CL A 92826C839 56534 762211 SH SOLE 696055 0 66156 VODAFONE GROUP PLC NEW SPNSR ADR 92857W308 462 14963 SH SOLE 12653 0 2310 VORNADO RLTY TR SH BEN INT 929042109 2114 21115 SH SOLE 21115 0 0 WABTEC CORP COM 929740108 311 4434 SH SOLE 4434 0 0 WALGREENS BOOTS ALLIANCE INC COM 931427108 7724 92746 SH SOLE 87676 0 5070 WAL-MART STORES INC COM 931142103 8274 113304 SH SOLE 93179 0 20125 WASTE CONNECTIONS INC COM 94106B101 252 3500 SH SOLE 3500 0 0 WASTE MGMT INC DEL COM 94106L109 346 5215 SH SOLE 5215 0 0 WATERS CORP COM 941848103 841 5980 SH SOLE 2180 0 3800 WATTS WATER TECHNOLOGIES INC CL A 942749102 745 12783 SH SOLE 11533 0 1250 WEC ENERGY GROUP INC COM 92939U106 1213 18575 SH SOLE 18237 0 338 WELLS FARGO & CO NEW COM 949746101 44831 947204 SH SOLE 896459 0 50745 WELLTOWER INC COM 95040Q104 229 3000 SH SOLE 3000 0 0 WEYERHAEUSER CO COM 962166104 668 22453 SH SOLE 22453 0 0 WHOLE FOODS MKT INC COM 966837106 542 16932 SH SOLE 16932 0 0 WILEY JOHN & SONS INC CL A 968223206 753 14432 SH SOLE 3500 0 10932 WISDOMTREE TR EUROPE HEDGED EQ 97717X701 3164 62600 SH SOLE 18355 0 44245 WISDOMTREE TR JAPN HEDGE EQT 97717W851 2191 56505 SH SOLE 15900 0 40605 WORKDAY INC CL A 98138H101 262 3517 SH SOLE 3517 0 0 XYLEM INC COM 98419M100 442 9892 SH SOLE 9892 0 0 ZIMMER BIOMET HLDGS INC COM 98956P102 5370 44607 SH SOLE 40867 0 3740