# EDGAR Filing Document

**Accession Number:** 0000891287
**File Stem:** 0000891287-23-000002
**Filing Date:** 2023-2
**Character Count:** 30111
**Document Hash:** 4a22cf15b1c7baa19ed4a6679e3c2d16
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000891287-23-000002.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0000891287-23-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DAVIS R M INC
- **CENTRAL INDEX KEY:** 0000891287
- **IRS NUMBER:** 010356657
- **STATE OF INCORPORATION:** ME
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-03298
- **FILM NUMBER:** 23626895

**BUSINESS ADDRESS:**
- **STREET 1:** 24 CITY CENTER
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101
- **BUSINESS PHONE:** 2077740022

**MAIL ADDRESS:**
- **STREET 1:** 24 CITY CENTER
- **CITY:** PORTLAND
- **STATE:** ME
- **ZIP:** 04101

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** DAVIS R M INC<br>**Address:** 24 CITY CENTER<br>PORTLAND, ME 04101

**Form 13F File Number:** 028-03298

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Caleb C. B. DuBois<br>**Title:** CCO and Deputy General Counsel<br>**Phone:** 12077740022

**Signature, Place, and Date of Signing:**

Caleb C. B. DuBois  Portland, ME  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 277

**Form 13F Information Table Value Total:** $3710257

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M Co | COM | 88579Y101 |  | 1973 | 16450 | SH |  | SOLE |  | 16284 | 0 | 166 |
| Abbott Laboratories | COM | 002824100 |  | 3757 | 34223 | SH |  | SOLE |  | 34018 | 0 | 205 |
| Abbvie Inc | COM | 00287Y109 |  | 3791 | 23456 | SH |  | SOLE |  | 23421 | 0 | 35 |
| Accenture Plc | COM | G1151C101 |  | 34833 | 130540 | SH |  | SOLE |  | 128775 | 0 | 1765 |
| Activision Blizzard Inc | COM | 00507V109 |  | 21806 | 284861 | SH |  | SOLE |  | 280038 | 0 | 4823 |
| Adobe Systems Inc | COM | 00724F101 |  | 482 | 1431 | SH |  | SOLE |  | 1431 | 0 | 0 |
| Advanced Micro Devices Inc | COM | 007903107 |  | 389 | 6007 | SH |  | SOLE |  | 6007 | 0 | 0 |
| Air Products  Chemicals Inc | COM | 009158106 |  | 1073 | 3481 | SH |  | SOLE |  | 3481 | 0 | 0 |
| Akamai Technologies Inc | COM | 00971T101 |  | 22099 | 262142 | SH |  | SOLE |  | 258455 | 0 | 3687 |
| Allstate Corp | COM | 020002101 |  | 319 | 2349 | SH |  | SOLE |  | 2349 | 0 | 0 |
| Alphabet Inc-A | COM | 02079K305 |  | 82253 | 932262 | SH |  | SOLE |  | 906880 | 0 | 25382 |
| Alphabet Inc-C | COM | 02079K107 |  | 15284 | 172253 | SH |  | SOLE |  | 169793 | 0 | 2460 |
| Altria Group Inc | COM | 02209S103 |  | 211 | 4611 | SH |  | SOLE |  | 4361 | 0 | 250 |
| Amazon.com Inc | COM | 023135106 |  | 44124 | 525281 | SH |  | SOLE |  | 510301 | 0 | 14980 |
| American Express Co | COM | 025816109 |  | 248 | 1676 | SH |  | SOLE |  | 1676 | 0 | 0 |
| American Tower Corp | COM | 03027X100 |  | 61815 | 291774 | SH |  | SOLE |  | 285268 | 0 | 6506 |
| American Water Works Co Inc | COM | 030420103 |  | 54456 | 357274 | SH |  | SOLE |  | 349480 | 0 | 7794 |
| AMETEK Inc | COM | 031100100 |  | 52712 | 377269 | SH |  | SOLE |  | 369811 | 0 | 7458 |
| Amgen Inc | COM | 031162100 |  | 1469 | 5593 | SH |  | SOLE |  | 5156 | 0 | 437 |
| Amphenol Corp | COM | 032095101 |  | 64056 | 841287 | SH |  | SOLE |  | 823466 | 0 | 17821 |
| Ansys Inc | COM | 03662Q105 |  | 17306 | 71634 | SH |  | SOLE |  | 70528 | 0 | 1106 |
| Aon PLC | COM | G0403H108 |  | 40298 | 134265 | SH |  | SOLE |  | 132369 | 0 | 1896 |
| Apple Inc | COM | 037833100 |  | 151606 | 1166829 | SH |  | SOLE |  | 1139224 | 0 | 27605 |
| Applied Materials Inc | COM | 038222105 |  | 509 | 5227 | SH |  | SOLE |  | 5227 | 0 | 0 |
| ASML Holding NV | COM | N07059210 |  | 19267 | 35262 | SH |  | SOLE |  | 34135 | 0 | 1127 |
| Assurant Inc | COM | 04621X108 |  | 258 | 2061 | SH |  | SOLE |  | 2061 | 0 | 0 |
| AT Inc | COM | 00206R102 |  | 650 | 35324 | SH |  | SOLE |  | 33613 | 0 | 1711 |
| Automatic Data Processing Inc | COM | 053015103 |  | 10422 | 43631 | SH |  | SOLE |  | 42995 | 0 | 636 |
| Autozone Inc | COM | 053332102 |  | 212 | 86 | SH |  | SOLE |  | 86 | 0 | 0 |
| Bank of America Corp | COM | 060505104 |  | 17954 | 542087 | SH |  | SOLE |  | 528825 | 0 | 13262 |
| Becton Dickinson  Co | COM | 075887109 |  | 1588 | 6246 | SH |  | SOLE |  | 6246 | 0 | 0 |
| Berkshire Hathaway Inc-A | COM | 084670108 |  | 469 | 1 | SH |  | SOLE |  | 1 | 0 | 0 |
| Berkshire Hathaway Inc-B | COM | 084670702 |  | 83822 | 271355 | SH |  | SOLE |  | 265470 | 0 | 5885 |
| BlackRock Inc | COM | 09247X101 |  | 992 | 1400 | SH |  | SOLE |  | 1400 | 0 | 0 |
| Blackstone Inc | COM | 09260D107 |  | 431 | 5808 | SH |  | SOLE |  | 5808 | 0 | 0 |
| Boeing Co | COM | 097023105 |  | 356 | 1870 | SH |  | SOLE |  | 1870 | 0 | 0 |
| Borgwarner Inc | COM | 099724106 |  | 22025 | 547195 | SH |  | SOLE |  | 535540 | 0 | 11655 |
| Bristol-Myers Squibb Co | COM | 110122108 |  | 758 | 10529 | SH |  | SOLE |  | 9560 | 0 | 969 |
| Broadcom Inc | COM | 11135F101 |  | 1003 | 1793 | SH |  | SOLE |  | 1793 | 0 | 0 |
| Brown Forman Corp-B | COM | 115637209 |  | 1446 | 22012 | SH |  | SOLE |  | 22012 | 0 | 0 |
| Camden National Corp | COM | 133034108 |  | 236 | 5650 | SH |  | SOLE |  | 5350 | 0 | 300 |
| Canadian National Railway Co | COM | 136375102 |  | 417 | 3509 | SH |  | SOLE |  | 3509 | 0 | 0 |
| Caterpillar Inc | COM | 149123101 |  | 798 | 3332 | SH |  | SOLE |  | 3332 | 0 | 0 |
| Charles Schwab Corp | COM | 808513105 |  | 1548 | 18587 | SH |  | SOLE |  | 18571 | 0 | 16 |
| Chevron Corp | COM | 166764100 |  | 4143 | 23083 | SH |  | SOLE |  | 22415 | 0 | 668 |
| Chubb Ltd | COM | H1467J104 |  | 60170 | 272755 | SH |  | SOLE |  | 267696 | 0 | 5059 |
| Church  Dwight Inc | COM | 171340102 |  | 573 | 7103 | SH |  | SOLE |  | 7103 | 0 | 0 |
| Cigna Corp | COM | 125523100 |  | 280 | 844 | SH |  | SOLE |  | 844 | 0 | 0 |
| Cisco Systems Inc | COM | 17275R102 |  | 1107 | 23243 | SH |  | SOLE |  | 23180 | 0 | 63 |
| Clorox Co | COM | 189054109 |  | 217 | 1546 | SH |  | SOLE |  | 1496 | 0 | 50 |
| CME Group Inc | COM | 12572Q105 |  | 20821 | 123815 | SH |  | SOLE |  | 121008 | 0 | 2807 |
| Coca Cola Co | COM | 191216100 |  | 1299 | 20416 | SH |  | SOLE |  | 15616 | 0 | 4800 |
| Cognizant Tech Solutions Corp | COM | 192446102 |  | 13026 | 227760 | SH |  | SOLE |  | 223434 | 0 | 4326 |
| Colgate Palmolive Co | COM | 194162103 |  | 10431 | 132384 | SH |  | SOLE |  | 129080 | 0 | 3304 |
| Comcast Corp | COM | 20030N101 |  | 3511 | 100408 | SH |  | SOLE |  | 99487 | 0 | 921 |
| ConocoPhillips | COM | 20825C104 |  | 43731 | 370600 | SH |  | SOLE |  | 363005 | 0 | 7595 |
| Constellation Brands Inc-A | COM | 21036P108 |  | 25106 | 108333 | SH |  | SOLE |  | 105458 | 0 | 2875 |
| Consumer Discretionary Select | COM | 81369Y407 |  | 8789 | 68044 | SH |  | SOLE |  | 65824 | 0 | 2220 |
| Cooper Companies Inc | COM | 216648402 |  | 725 | 2191 | SH |  | SOLE |  | 2176 | 0 | 15 |
| Copart Inc | COM | 217204106 |  | 207 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| Corning Inc | COM | 219350105 |  | 257 | 8056 | SH |  | SOLE |  | 8011 | 0 | 45 |
| Corteva Inc | COM | 22052L104 |  | 323 | 5491 | SH |  | SOLE |  | 5491 | 0 | 0 |
| Costco Wholesale Corp | COM | 22160K105 |  | 49397 | 108209 | SH |  | SOLE |  | 106226 | 0 | 1983 |
| Crown Castle Intl Corp-REIT | COM | 22822V101 |  | 597 | 4403 | SH |  | SOLE |  | 4403 | 0 | 0 |
| CSX Corp | COM | 126408103 |  | 495 | 15987 | SH |  | SOLE |  | 15987 | 0 | 0 |
| Cullen/Frost Bankers Inc | COM | 229899109 |  | 5470 | 40916 | SH |  | SOLE |  | 39676 | 0 | 1240 |
| CVS Health Corp | COM | 126650100 |  | 572 | 6143 | SH |  | SOLE |  | 5843 | 0 | 300 |
| Danaher Corp | COM | 235851102 |  | 93778 | 353319 | SH |  | SOLE |  | 347309 | 0 | 6010 |
| Deere  Co | COM | 244199105 |  | 14337 | 33439 | SH |  | SOLE |  | 32647 | 0 | 792 |
| Dimensional US Targeted Value | COM | 25434V609 |  | 219 | 4990 | SH |  | SOLE |  | 4990 | 0 | 0 |
| Dow Inc | COM | 260557103 |  | 352 | 6980 | SH |  | SOLE |  | 6980 | 0 | 0 |
| Du Pont de Nemours Inc | COM | 26614N102 |  | 459 | 6682 | SH |  | SOLE |  | 6682 | 0 | 0 |
| Duke Energy Corp | COM | 26441C204 |  | 472 | 4580 | SH |  | SOLE |  | 4580 | 0 | 0 |
| Eaton Corp PLC | COM | G29183103 |  | 33181 | 211409 | SH |  | SOLE |  | 205861 | 0 | 5548 |
| Ecolab Inc | COM | 278865100 |  | 24164 | 166006 | SH |  | SOLE |  | 163034 | 0 | 2973 |
| Edwards Lifesciences Cp | COM | 28176E108 |  | 282 | 3784 | SH |  | SOLE |  | 3784 | 0 | 0 |
| Eli Lilly  Co | COM | 532457108 |  | 2228 | 6091 | SH |  | SOLE |  | 4971 | 0 | 1120 |
| Emerson Electric Co | COM | 291011104 |  | 1686 | 17555 | SH |  | SOLE |  | 17455 | 0 | 100 |
| Enterprise Products Partners L | COM | 293792107 |  | 523 | 21678 | SH |  | SOLE |  | 21103 | 0 | 575 |
| EOG Resources Inc | COM | 26875P101 |  | 210 | 1624 | SH |  | SOLE |  | 1624 | 0 | 0 |
| Equinix Inc | COM | 29444U700 |  | 19482 | 29743 | SH |  | SOLE |  | 29124 | 0 | 619 |
| Essential Utilities Inc | COM | 29670G102 |  | 212 | 4433 | SH |  | SOLE |  | 4433 | 0 | 0 |
| Estee Lauder Companies-A | COM | 518439104 |  | 755 | 3044 | SH |  | SOLE |  | 3044 | 0 | 0 |
| Exxon Mobil Corp | COM | 30231G102 |  | 37072 | 336098 | SH |  | SOLE |  | 325416 | 0 | 10682 |
| Factset Research Systems Inc | COM | 303075105 |  | 205 | 511 | SH |  | SOLE |  | 511 | 0 | 0 |
| Fastenal Co | COM | 311900104 |  | 340 | 7191 | SH |  | SOLE |  | 7191 | 0 | 0 |
| Financial Select Sector SPDR E | COM | 81369Y605 |  | 379 | 11085 | SH |  | SOLE |  | 11008 | 0 | 77 |
| First Republic Bank | COM | 33616C100 |  | 241 | 1980 | SH |  | SOLE |  | 1980 | 0 | 0 |
| First Trust NASDAQ Cybersecuri | COM | 33734X846 |  | 312 | 8060 | SH |  | SOLE |  | 8060 | 0 | 0 |
| Fox Corp | COM | 35137L105 |  | 661 | 21755 | SH |  | SOLE |  | 21355 | 0 | 400 |
| Generac Holdings Inc | COM | 368736104 |  | 206 | 2051 | SH |  | SOLE |  | 2001 | 0 | 50 |
| General Dynamics Corp | COM | 369550108 |  | 428 | 1724 | SH |  | SOLE |  | 1724 | 0 | 0 |
| General Electric Co | COM | 369604301 |  | 259 | 3086 | SH |  | SOLE |  | 3074 | 0 | 12 |
| Genuine Parts Co | COM | 372460105 |  | 235 | 1354 | SH |  | SOLE |  | 1354 | 0 | 0 |
| Globe Life Inc | COM | 37959E102 |  | 12296 | 102003 | SH |  | SOLE |  | 100342 | 0 | 1661 |
| Goldman Sachs Group Inc | COM | 38141G104 |  | 440 | 1281 | SH |  | SOLE |  | 1281 | 0 | 0 |
| Health Care Select Sector SPDR | COM | 81369Y209 |  | 211 | 1550 | SH |  | SOLE |  | 1550 | 0 | 0 |
| Henry Schein Inc | COM | 806407102 |  | 1190 | 14893 | SH |  | SOLE |  | 14823 | 0 | 70 |
| Hershey Co | COM | 427866108 |  | 31357 | 135411 | SH |  | SOLE |  | 133798 | 0 | 1613 |
| Hologic Inc | COM | 436440101 |  | 629 | 8402 | SH |  | SOLE |  | 7917 | 0 | 485 |
| Home Depot Inc | COM | 437076102 |  | 43171 | 136679 | SH |  | SOLE |  | 134199 | 0 | 2480 |
| Honeywell International Inc | COM | 438516106 |  | 2018 | 9418 | SH |  | SOLE |  | 9018 | 0 | 400 |
| Idexx Labs Corp | COM | 45168D104 |  | 40361 | 98933 | SH |  | SOLE |  | 96602 | 0 | 2331 |
| Illinois Tool Wks Inc | COM | 452308109 |  | 1246 | 5655 | SH |  | SOLE |  | 5655 | 0 | 0 |
| Intel Corp | COM | 458140100 |  | 797 | 30172 | SH |  | SOLE |  | 29961 | 0 | 211 |
| Intl Business Machines Corp | COM | 459200101 |  | 1146 | 8136 | SH |  | SOLE |  | 8036 | 0 | 100 |
| Intuit Inc | COM | 461202103 |  | 62781 | 161298 | SH |  | SOLE |  | 159265 | 0 | 2033 |
| Intuitive Surgical Inc | COM | 46120E602 |  | 439 | 1654 | SH |  | SOLE |  | 1654 | 0 | 0 |
| Invesco QQQ Trust Series 1 ETF | COM | 46090E103 |  | 697 | 2619 | SH |  | SOLE |  | 2459 | 0 | 160 |
| Invesco S 500 Equal Weight E | COM | 46137V357 |  | 1780 | 12600 | SH |  | SOLE |  | 2200 | 0 | 10400 |
| IQ Hedge Multi Strategy Tracke | COM | 45409B107 |  | 266 | 9360 | SH |  | SOLE |  | 9360 | 0 | 0 |
| iShares Core S 500 ETF | COM | 464287200 |  | 2163 | 5631 | SH |  | SOLE |  | 5039 | 0 | 592 |
| iShares Core S M/C ETF | COM | 464287507 |  | 100499 | 415475 | SH |  | SOLE |  | 312634 | 0 | 102841 |
| iShares Core S S/C ETF | COM | 464287804 |  | 2203 | 23276 | SH |  | SOLE |  | 20566 | 0 | 2710 |
| iShares Gold Trust ETF | COM | 464285204 |  | 503 | 14540 | SH |  | SOLE |  | 14540 | 0 | 0 |
| iShares MSCI EM ETF | COM | 464287234 |  | 206 | 5423 | SH |  | SOLE |  | 5073 | 0 | 350 |
| iShares Russell 1000 ETF | COM | 464287622 |  | 16159 | 76756 | SH |  | SOLE |  | 58758 | 0 | 17998 |
| iShares Russell 1000 Growth ET | COM | 464287614 |  | 2159 | 10077 | SH |  | SOLE |  | 9724 | 0 | 353 |
| iShares Russell 1000 Value ETF | COM | 464287598 |  | 264 | 1744 | SH |  | SOLE |  | 1230 | 0 | 514 |
| iShares Russell 2000 ETF | COM | 464287655 |  | 1869 | 10719 | SH |  | SOLE |  | 5552 | 0 | 5167 |
| iShares Russell 3000 ETF | COM | 464287689 |  | 39290 | 178039 | SH |  | SOLE |  | 177961 | 0 | 78 |
| iShares Russell M/C ETF | COM | 464287499 |  | 1294 | 19178 | SH |  | SOLE |  | 14245 | 0 | 4933 |
| iShares Russell M/C Growth ETF | COM | 464287481 |  | 412 | 4934 | SH |  | SOLE |  | 4934 | 0 | 0 |
| iShares Russell M/C Value ETF | COM | 464287473 |  | 566 | 5376 | SH |  | SOLE |  | 5357 | 0 | 19 |
| iShares S 500 Growth ETF | COM | 464287309 |  | 276 | 4710 | SH |  | SOLE |  | 4110 | 0 | 600 |
| iShares S 500 Value ETF | COM | 464287408 |  | 242 | 1669 | SH |  | SOLE |  | 1669 | 0 | 0 |
| iShares S GSCI Commodity ETF | COM | 46428R107 |  | 408 | 19210 | SH |  | SOLE |  | 19210 | 0 | 0 |
| Jacobs Solutions Inc | COM | 46982L108 |  | 616 | 5129 | SH |  | SOLE |  | 5129 | 0 | 0 |
| JM Smucker Co | COM | 832696405 |  | 411 | 2591 | SH |  | SOLE |  | 2591 | 0 | 0 |
| Johnson  Johnson | COM | 478160104 |  | 50878 | 288013 | SH |  | SOLE |  | 280903 | 0 | 7110 |
| Johnson Controls Intl Plc | COM | G51502105 |  | 330 | 5153 | SH |  | SOLE |  | 5153 | 0 | 0 |
| JP Morgan Chase  Co | COM | 46625H100 |  | 51010 | 380386 | SH |  | SOLE |  | 371746 | 0 | 8640 |
| Kimberly Clark Corp | COM | 494368103 |  | 2898 | 21346 | SH |  | SOLE |  | 21346 | 0 | 0 |
| Lam Research Corp | COM | 512807108 |  | 216 | 514 | SH |  | SOLE |  | 514 | 0 | 0 |
| Linde Plc | COM | G5494J103 |  | 59067 | 181088 | SH |  | SOLE |  | 176860 | 0 | 4228 |
| Lockheed Martin Corp | COM | 539830109 |  | 621 | 1276 | SH |  | SOLE |  | 1276 | 0 | 0 |
| Lowe's Companies Inc | COM | 548661107 |  | 2757 | 13837 | SH |  | SOLE |  | 13837 | 0 | 0 |
| Magellan Midstream Partners LP | COM | 559080106 |  | 283 | 5636 | SH |  | SOLE |  | 5636 | 0 | 0 |
| Marathon Petroleum Corp | COM | 56585A102 |  | 310 | 2661 | SH |  | SOLE |  | 2495 | 0 | 166 |
| Marsh  Mclennan Companies Inc | COM | 571748102 |  | 446 | 2697 | SH |  | SOLE |  | 2697 | 0 | 0 |
| Mastercard Inc-A | COM | 57636Q104 |  | 1354 | 3894 | SH |  | SOLE |  | 3779 | 0 | 115 |
| McCormick  Co Inc | COM | 579780206 |  | 15290 | 184464 | SH |  | SOLE |  | 181734 | 0 | 2730 |
| McDonalds Corp | COM | 580135101 |  | 4311 | 16357 | SH |  | SOLE |  | 15847 | 0 | 510 |
| Medtronic Plc | COM | G5960L103 |  | 21286 | 273875 | SH |  | SOLE |  | 269418 | 0 | 4457 |
| Merck  Co Inc | COM | 58933Y105 |  | 35037 | 315792 | SH |  | SOLE |  | 308250 | 0 | 7542 |
| Meta Platforms Inc. | COM | 30303M102 |  | 10203 | 84785 | SH |  | SOLE |  | 82657 | 0 | 2128 |
| Mettler-Toledo Intl Inc | COM | 592688105 |  | 59969 | 41488 | SH |  | SOLE |  | 40799 | 0 | 689 |
| Microchip Technology Inc | COM | 595017104 |  | 71624 | 1019555 | SH |  | SOLE |  | 1000509 | 0 | 19046 |
| Microsoft Corp | COM | 594918104 |  | 94361 | 393467 | SH |  | SOLE |  | 385200 | 0 | 8267 |
| Middleby Corp | COM | 596278101 |  | 1845 | 13777 | SH |  | SOLE |  | 13439 | 0 | 338 |
| Mondelez Intl Inc | COM | 609207105 |  | 554 | 8308 | SH |  | SOLE |  | 8308 | 0 | 0 |
| Morgan Stanley | COM | 617446448 |  | 424 | 4982 | SH |  | SOLE |  | 4982 | 0 | 0 |
| National Grid Plc ADR | COM | 636274409 |  | 220 | 3646 | SH |  | SOLE |  | 3646 | 0 | 0 |
| NextEra Energy Inc | COM | 65339F101 |  | 61618 | 737055 | SH |  | SOLE |  | 721381 | 0 | 15674 |
| Nike Inc | COM | 654106103 |  | 12585 | 107551 | SH |  | SOLE |  | 106076 | 0 | 1475 |
| Nordson Corp | COM | 655663102 |  | 17170 | 72227 | SH |  | SOLE |  | 71216 | 0 | 1011 |
| Norfolk Southern Corp | COM | 655844108 |  | 1926 | 7817 | SH |  | SOLE |  | 7422 | 0 | 395 |
| Northern Trust Corp | COM | 665859104 |  | 15541 | 175627 | SH |  | SOLE |  | 171924 | 0 | 3703 |
| Northrop Grumman Corp | COM | 666807102 |  | 29732 | 54492 | SH |  | SOLE |  | 53586 | 0 | 906 |
| Novartis AG ADR | COM | 66987V109 |  | 323 | 3559 | SH |  | SOLE |  | 3559 | 0 | 0 |
| Novo Nordisk A/S ADR | COM | 670100205 |  | 633 | 4675 | SH |  | SOLE |  | 4675 | 0 | 0 |
| Nvidia Corp | COM | 67066G104 |  | 18564 | 127029 | SH |  | SOLE |  | 122781 | 0 | 4248 |
| NVR Inc | COM | 62944T105 |  | 300 | 65 | SH |  | SOLE |  | 65 | 0 | 0 |
| Omnicom Group Inc | COM | 681919106 |  | 272 | 3330 | SH |  | SOLE |  | 3180 | 0 | 150 |
| Oracle Corp | COM | 68389X105 |  | 1935 | 23669 | SH |  | SOLE |  | 23565 | 0 | 104 |
| Oshkosh Corp | COM | 688239201 |  | 17083 | 193711 | SH |  | SOLE |  | 190783 | 0 | 2928 |
| Palo Alto Networks Inc | COM | 697435105 |  | 63774 | 457031 | SH |  | SOLE |  | 446690 | 0 | 10341 |
| Paychex Inc | COM | 704326107 |  | 331 | 2861 | SH |  | SOLE |  | 1361 | 0 | 1500 |
| Pentair Plc | COM | G7S00T104 |  | 225 | 5001 | SH |  | SOLE |  | 5001 | 0 | 0 |
| Pepsico Inc | COM | 713448108 |  | 55659 | 308086 | SH |  | SOLE |  | 303340 | 0 | 4745 |
| Pfizer Inc | COM | 717081103 |  | 16553 | 323048 | SH |  | SOLE |  | 312465 | 0 | 10583 |
| Philip Morris Intl Inc | COM | 718172109 |  | 707 | 6990 | SH |  | SOLE |  | 6890 | 0 | 100 |
| Phillips 66 | COM | 718546104 |  | 40619 | 390268 | SH |  | SOLE |  | 383224 | 0 | 7044 |
| PNC Financial Services Group | COM | 693475105 |  | 533 | 3373 | SH |  | SOLE |  | 3373 | 0 | 0 |
| Polaris Inc | COM | 731068102 |  | 13594 | 134592 | SH |  | SOLE |  | 130736 | 0 | 3856 |
| Procter  Gamble Co | COM | 742718109 |  | 27462 | 181195 | SH |  | SOLE |  | 172159 | 0 | 9036 |
| ProShares UltraShort S ET | COM | 74347G416 |  | 313 | 6800 | SH |  | SOLE |  | 6800 | 0 | 0 |
| Prudential Financial Inc | COM | 744320102 |  | 381 | 3830 | SH |  | SOLE |  | 3830 | 0 | 0 |
| Quaker Houghton | COM | 747316107 |  | 4057 | 24306 | SH |  | SOLE |  | 23799 | 0 | 507 |
| Qualcomm Inc | COM | 747525103 |  | 45395 | 412906 | SH |  | SOLE |  | 402028 | 0 | 10878 |
| Raytheon Technologies Corp | COM | 75513E101 |  | 37361 | 370208 | SH |  | SOLE |  | 360991 | 0 | 9217 |
| RBC Bearings Inc | COM | 75524B104 |  | 12261 | 58567 | SH |  | SOLE |  | 57737 | 0 | 830 |
| Rockwell Automation Corp | COM | 773903109 |  | 21430 | 83202 | SH |  | SOLE |  | 81522 | 0 | 1680 |
| Roper Technologies Inc | COM | 776696106 |  | 48983 | 113364 | SH |  | SOLE |  | 111308 | 0 | 2056 |
| S Global Inc | COM | 78409V104 |  | 1270 | 3793 | SH |  | SOLE |  | 3793 | 0 | 0 |
| Salesforce Inc | COM | 79466L302 |  | 434 | 3276 | SH |  | SOLE |  | 2976 | 0 | 300 |
| SEI Investments Co | COM | 784117103 |  | 4169 | 71511 | SH |  | SOLE |  | 70251 | 0 | 1260 |
| Shell PLC ADR | COM | 780259305 |  | 227 | 3979 | SH |  | SOLE |  | 3979 | 0 | 0 |
| Sherwin-Williams Co | COM | 824348106 |  | 25902 | 109138 | SH |  | SOLE |  | 107678 | 0 | 1460 |
| Sirius XM Holdings Inc | COM | 82968B103 |  | 68 | 11645 | SH |  | SOLE |  | 11645 | 0 | 0 |
| Southern Co | COM | 842587107 |  | 261 | 3652 | SH |  | SOLE |  | 3552 | 0 | 100 |
| SPDR Gold Trust | COM | 78463V107 |  | 217 | 1277 | SH |  | SOLE |  | 1149 | 0 | 128 |
| SPDR S 500 ETF | COM | 78462F103 |  | 111532 | 291641 | SH |  | SOLE |  | 198990 | 0 | 92651 |
| SPDR S Biotech ETF | COM | 78464A870 |  | 5225 | 62948 | SH |  | SOLE |  | 61080 | 0 | 1868 |
| SPDR S M/C 400 ETF | COM | 78467Y107 |  | 3559 | 8038 | SH |  | SOLE |  | 4136 | 0 | 3902 |
| Starbucks Corp | COM | 855244109 |  | 4906 | 49451 | SH |  | SOLE |  | 48961 | 0 | 490 |
| State Street Corp | COM | 857477103 |  | 430 | 5544 | SH |  | SOLE |  | 5544 | 0 | 0 |
| STERIS Plc | COM | G8473T100 |  | 11729 | 63507 | SH |  | SOLE |  | 61673 | 0 | 1834 |
| Stryker Corp | COM | 863667101 |  | 25654 | 104927 | SH |  | SOLE |  | 103051 | 0 | 1876 |
| Sysco Corp | COM | 871829107 |  | 325 | 4248 | SH |  | SOLE |  | 4248 | 0 | 0 |
| T Rowe Price Group Inc | COM | 74144T108 |  | 15520 | 142311 | SH |  | SOLE |  | 139561 | 0 | 2750 |
| Target Corp | COM | 87612E106 |  | 399 | 2677 | SH |  | SOLE |  | 2677 | 0 | 0 |
| TE Connectivity Ltd | COM | H84989104 |  | 813 | 7086 | SH |  | SOLE |  | 7086 | 0 | 0 |
| Technology Select Sector SPDR | COM | 81369Y803 |  | 262 | 2106 | SH |  | SOLE |  | 2087 | 0 | 19 |
| Teleflex Inc | COM | 879369106 |  | 8429 | 33766 | SH |  | SOLE |  | 32742 | 0 | 1024 |
| Tesla Inc | COM | 88160R101 |  | 1003 | 8145 | SH |  | SOLE |  | 7366 | 0 | 779 |
| Texas Instruments Inc | COM | 882508104 |  | 1136 | 6878 | SH |  | SOLE |  | 6878 | 0 | 0 |
| Thermo Fisher Scientific Inc | COM | 883556102 |  | 79651 | 144639 | SH |  | SOLE |  | 142238 | 0 | 2401 |
| TJX Companies Inc | COM | 872540109 |  | 61797 | 776340 | SH |  | SOLE |  | 761967 | 0 | 14373 |
| Toll Brothers Inc | COM | 889478103 |  | 14092 | 282282 | SH |  | SOLE |  | 276465 | 0 | 5817 |
| Toronto-Dominion Bank | COM | 891160509 |  | 664 | 10249 | SH |  | SOLE |  | 8749 | 0 | 1500 |
| Tractor Supply Co | COM | 892356106 |  | 34061 | 151403 | SH |  | SOLE |  | 147404 | 0 | 3999 |
| Trane Technologies Inc | COM | G8994E103 |  | 244 | 1451 | SH |  | SOLE |  | 271 | 0 | 1180 |
| Travelers Companies Inc | COM | 89417E109 |  | 619 | 3303 | SH |  | SOLE |  | 3303 | 0 | 0 |
| Truist Financial Corp | COM | 89832Q109 |  | 318 | 7390 | SH |  | SOLE |  | 7390 | 0 | 0 |
| Tyler Technologies Inc | COM | 902252105 |  | 237 | 736 | SH |  | SOLE |  | 736 | 0 | 0 |
| Unilever Plc ADR | COM | 904767704 |  | 300 | 5955 | SH |  | SOLE |  | 5690 | 0 | 265 |
| Union Pacific Corp | COM | 907818108 |  | 28791 | 139039 | SH |  | SOLE |  | 135096 | 0 | 3943 |
| United Parcel Service Inc | COM | 911312106 |  | 377 | 2166 | SH |  | SOLE |  | 2106 | 0 | 60 |
| Unitedhealth Group Inc | COM | 91324P102 |  | 45088 | 85042 | SH |  | SOLE |  | 83668 | 0 | 1374 |
| US Bancorp | COM | 902973304 |  | 27402 | 628346 | SH |  | SOLE |  | 614400 | 0 | 13946 |
| Vanguard Dividend Appreciation | COM | 921908844 |  | 1463 | 9632 | SH |  | SOLE |  | 6926 | 0 | 2706 |
| Vanguard ESG US Stock ETF | COM | 921910733 |  | 795 | 12067 | SH |  | SOLE |  | 10892 | 0 | 1175 |
| Vanguard Financials ETF | COM | 92204A405 |  | 244 | 2948 | SH |  | SOLE |  | 2948 | 0 | 0 |
| Vanguard Growth ETF | COM | 922908736 |  | 515 | 2415 | SH |  | SOLE |  | 2330 | 0 | 85 |
| Vanguard High Dividend Yield E | COM | 921946406 |  | 254 | 2350 | SH |  | SOLE |  | 2275 | 0 | 75 |
| Vanguard M/C Growth ETF | COM | 922908538 |  | 249 | 1383 | SH |  | SOLE |  | 1375 | 0 | 8 |
| Vanguard M/C Value ETF | COM | 922908512 |  | 396 | 2931 | SH |  | SOLE |  | 2811 | 0 | 120 |
| Vanguard Real Estate ETF | COM | 922908553 |  | 515 | 6240 | SH |  | SOLE |  | 5840 | 0 | 400 |
| Vanguard S 500 ETF | COM | 922908363 |  | 1048 | 2983 | SH |  | SOLE |  | 2833 | 0 | 150 |
| Vanguard S M/C 400 ETF | COM | 921932885 |  | 284 | 1734 | SH |  | SOLE |  | 1734 | 0 | 0 |
| Vanguard S/C ETF | COM | 922908751 |  | 60487 | 329558 | SH |  | SOLE |  | 286710 | 0 | 42848 |
| Vanguard S/C Growth ETF | COM | 922908595 |  | 259 | 1291 | SH |  | SOLE |  | 1287 | 0 | 4 |
| Vanguard S/C Value ETF | COM | 922908611 |  | 206 | 1299 | SH |  | SOLE |  | 1278 | 0 | 21 |
| Vanguard Total Stock Market ET | COM | 922908769 |  | 11606 | 60705 | SH |  | SOLE |  | 34188 | 0 | 26516 |
| Vanguard Value ETF | COM | 922908744 |  | 369 | 2630 | SH |  | SOLE |  | 2614 | 0 | 16 |
| Verizon Communications Inc | COM | 92343V104 |  | 1700 | 43158 | SH |  | SOLE |  | 40087 | 0 | 3071 |
| Visa Inc-A | COM | 92826C839 |  | 59145 | 284681 | SH |  | SOLE |  | 279239 | 0 | 5442 |
| Walmart Inc | COM | 931142103 |  | 681 | 4804 | SH |  | SOLE |  | 4686 | 0 | 118 |
| Walt Disney Co | COM | 254687106 |  | 28587 | 329037 | SH |  | SOLE |  | 322072 | 0 | 6965 |
| Waste Connections Inc | COM | 94106B101 |  | 58508 | 441366 | SH |  | SOLE |  | 433825 | 0 | 7541 |
| Waste Management Inc | COM | 94106L109 |  | 406 | 2591 | SH |  | SOLE |  | 2591 | 0 | 0 |
| Wells Fargo  Co | COM | 949746101 |  | 437 | 10584 | SH |  | SOLE |  | 10584 | 0 | 0 |
| West Pharmaceutical Services | COM | 955306105 |  | 338 | 1436 | SH |  | SOLE |  | 1436 | 0 | 0 |
| Xylem Inc | COM | 98419M100 |  | 227 | 2050 | SH |  | SOLE |  | 1950 | 0 | 100 |
| Yum Brands Inc | COM | 988498101 |  | 581 | 4533 | SH |  | SOLE |  | 4533 | 0 | 0 |
| Yum China Holdings Inc | COM | 98850P109 |  | 366 | 6696 | SH |  | SOLE |  | 6696 | 0 | 0 |
| Zoetis Inc | COM | 98978V103 |  | 10300 | 70282 | SH |  | SOLE |  | 68507 | 0 | 1775 |
| iShares MSCI EAFE ETF | INTL | 464287465 |  | 1420 | 21630 | SH |  | SOLE |  | 21475 | 0 | 155 |
| Vanguard ESG Intl Stock ETF | INTL | 921910725 |  | 1622 | 32978 | SH |  | SOLE |  | 32434 | 0 | 544 |
| Vanguard FTSE All-World Ex-US | INTL | 922042775 |  | 31217 | 622595 | SH |  | SOLE |  | 584915 | 0 | 37680 |
| Vanguard FTSE DM ETF | INTL | 921943858 |  | 38226 | 910800 | SH |  | SOLE |  | 851984 | 0 | 58816 |
| Vanguard FTSE EM ETF | INTL | 922042858 |  | 16818 | 431440 | SH |  | SOLE |  | 395899 | 0 | 35541 |
| Charles Schwab Corp | PERP PFD CNV A | 808513BD6 |  | 156 | 160000 | SH |  | SOLE |  | 160000 | 0 | 0 |
| JP Morgan Chase  Co | PERP PFD CNV A | 46625HJQ4 |  | 50 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| JP Morgan Chase  Co | PERP PFD CNV A | 48126HAC4 |  | 122 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| Northern Trust Corp | PERP PFD CNV A | 665859AQ7 |  | 88 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| Bank of America Corp | COM | 060505682 |  | 360 | 310 | SH |  | SOLE |  | 310 | 0 | 0 |
| BlackRock National Muni Fd | BOND FUND | 09253C603 |  | 203 | 20381 | SH |  | SOLE |  | 20381 | 0 | 0 |
| Invesco BulletShares 2023 Corp | BOND FUND | 46138J866 |  | 18678 | 890262 | SH |  | SOLE |  | 670161 | 0 | 220101 |
| Invesco BulletShares 2024 Corp | BOND FUND | 46138J841 |  | 17858 | 871778 | SH |  | SOLE |  | 656234 | 0 | 215544 |
| Invesco BulletShares 2025 Corp | BOND FUND | 46138J825 |  | 14143 | 702218 | SH |  | SOLE |  | 510744 | 0 | 191474 |
| Invesco BulletShares 2026 Corp | BOND FUND | 46138J791 |  | 7153 | 377974 | SH |  | SOLE |  | 324140 | 0 | 53834 |
| Invesco BulletShares 2027 Corp | BOND FUND | 46138J783 |  | 3633 | 191275 | SH |  | SOLE |  | 160932 | 0 | 30343 |
| Invesco BulletShares 2028 Corp | BOND FUND | 46138J643 |  | 976 | 49763 | SH |  | SOLE |  | 34623 | 0 | 15140 |
| Invesco BulletShares 2029 Corp | BOND FUND | 46138J577 |  | 245 | 13805 | SH |  | SOLE |  | 7025 | 0 | 6780 |
| iShares 1-3 Year Treasury Bond | BOND FUND | 464287457 |  | 227 | 2800 | SH |  | SOLE |  | 2800 | 0 | 0 |
| iShares 1-5 Year IG Corporate | BOND FUND | 464288646 |  | 25544 | 512716 | SH |  | SOLE |  | 447070 | 0 | 65646 |
| iShares 5-10 Year IG Corporate | BOND FUND | 464288638 |  | 5051 | 102010 | SH |  | SOLE |  | 74925 | 0 | 27085 |
| iShares TIPS Bond ETF | BOND FUND | 464287176 |  | 8060 | 75719 | SH |  | SOLE |  | 74126 | 0 | 1593 |
| Nuveen All American Muni Bond | BOND FUND | 67065Q889 |  | 338 | 33898 | SH |  | SOLE |  | 33898 | 0 | 0 |
| PIMCO Intermediate Muni Bond A | BOND FUND | 72201R866 |  | 2763 | 53780 | SH |  | SOLE |  | 53230 | 0 | 550 |
| PIMCO S/T Muni Bond Active ETF | BOND FUND | 72201R874 |  | 5837 | 118408 | SH |  | SOLE |  | 117908 | 0 | 500 |
| Vanguard Intermediate Term Cor | BOND FUND | 92206C870 |  | 484 | 6238 | SH |  | SOLE |  | 6238 | 0 | 0 |
| Vanguard MBS ETF | BOND FUND | 92206C771 |  | 585 | 12842 | SH |  | SOLE |  | 12462 | 0 | 380 |
| Vanguard S/T Treasury ETF | BOND FUND | 92206C102 |  | 1998 | 34562 | SH |  | SOLE |  | 23407 | 0 | 11155 |
| Vanguard Total Bond Mkt ETF | BOND FUND | 921937835 |  | 900 | 12532 | SH |  | SOLE |  | 10576 | 0 | 1956 |

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