# EDGAR Filing Document

**Accession Number:** 0001434323
**File Stem:** 0001434323-23-000001
**Filing Date:** 2023-2
**Character Count:** 21831
**Document Hash:** 38f4e1950d08867dd08bbddc7122cac0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001434323-23-000001.hdr.sgml**: 20230207

**ACCESSION NUMBER**: 0001434323-23-000001

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230207

**DATE AS OF CHANGE**: 20230206

**EFFECTIVENESS DATE**: 20230207

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Palisade Asset Management, LLC
- **CENTRAL INDEX KEY:** 0001434323
- **IRS NUMBER:** 270125285
- **STATE OF INCORPORATION:** MN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13058
- **FILM NUMBER:** 23592110

**BUSINESS ADDRESS:**
- **STREET 1:** 100 SOUTH FIFTH STREET, SUITE 420
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402
- **BUSINESS PHONE:** 612-455-2900

**MAIL ADDRESS:**
- **STREET 1:** 100 SOUTH FIFTH STREET, SUITE 420
- **CITY:** MINNEAPOLIS
- **STATE:** MN
- **ZIP:** 55402

### 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:** Palisade Asset Management LLC<br>**Address:** 100 SOUTH FIFTH STREET SUITE 420<br>MINNEAPOLIS, MN 55402

**Form 13F File Number:** 028-13058

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:** Jennifer McCord<br>**Title:** Chief Compliance Officer<br>**Phone:** 6124552900

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

Jennifer McCord  Minneapolis, MN  02-06-2023<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:** 185

**Form 13F Information Table Value Total:** $873185128

      (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 |
| Apple Inc | COM | 037833100 |  | 33001408 | 253994 | SH |  | SOLE |  | 197801 | 0 | 56193 |
| ABBOTT LABS | COM | 002824100 |  | 24099893 | 219509 | SH |  | SOLE |  | 163860 | 0 | 55649 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 8690445 | 32568 | SH |  | SOLE |  | 24315 | 0 | 8253 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 15755444 | 65961 | SH |  | SOLE |  | 52936 | 0 | 13025 |
| Amgen Inc | COM | 031162100 |  | 19572721 | 74523 | SH |  | SOLE |  | 59243 | 0 | 15280 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 6642023 | 31351 | SH |  | SOLE |  | 22701 | 0 | 8650 |
| BALL CORP | COM | 058498106 |  | 7849069 | 153482 | SH |  | SOLE |  | 110642 | 0 | 42840 |
| BAXTER INTL INC | COM | 071813109 |  | 6699089 | 131432 | SH |  | SOLE |  | 91319 | 0 | 40113 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 10872597 | 42755 | SH |  | SOLE |  | 31215 | 0 | 11540 |
| BLACKROCK INC | COM | 09247X101 |  | 9258960 | 13066 | SH |  | SOLE |  | 10226 | 0 | 2840 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 8666979 | 110001 | SH |  | SOLE |  | 77721 | 0 | 32280 |
| CISCO SYS INC | COM | 17275R102 |  | 17647095 | 370426 | SH |  | SOLE |  | 305450 | 0 | 64976 |
| CHEVRON CORP NEW | COM | 166764100 |  | 15964020 | 88941 | SH |  | SOLE |  | 65536 | 0 | 23405 |
| Deere  Co | COM | 244199105 |  | 17287603 | 40320 | SH |  | SOLE |  | 28915 | 0 | 11405 |
| Ecolab Inc | COM | 278865100 |  | 10353392 | 71128 | SH |  | SOLE |  | 58297 | 0 | 12831 |
| General Dynamics Corp | COM | 369550108 |  | 10684361 | 43063 | SH |  | SOLE |  | 30733 | 0 | 12330 |
| HOME DEPOT INC | COM | 437076102 |  | 23631698 | 74817 | SH |  | SOLE |  | 59828 | 0 | 14989 |
| Hormel Foods Corp | COM | 440452100 |  | 10653371 | 233883 | SH |  | SOLE |  | 178413 | 0 | 55470 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 14450530 | 102566 | SH |  | SOLE |  | 78054 | 0 | 24512 |
| Johnson  Johnson | COM | 478160104 |  | 18600362 | 105295 | SH |  | SOLE |  | 80567 | 0 | 24728 |
| JPMorgan Chase  Co | COM | 46625H100 |  | 11207944 | 83579 | SH |  | SOLE |  | 63602 | 0 | 19977 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 8387740 | 40285 | SH |  | SOLE |  | 28756 | 0 | 11529 |
| MCDONALDS CORP | COM | 580135101 |  | 13106532 | 49734 | SH |  | SOLE |  | 36748 | 0 | 12986 |
| 3M Co | COM | 88579Y101 |  | 11448283 | 95466 | SH |  | SOLE |  | 78961 | 0 | 16505 |
| Microsoft Corp | COM | 594918104 |  | 37811460 | 157666 | SH |  | SOLE |  | 126222 | 0 | 31444 |
| Oracle Corp | COM | 68389X105 |  | 17454433 | 213536 | SH |  | SOLE |  | 172568 | 0 | 40968 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 18983799 | 125256 | SH |  | SOLE |  | 98497 | 0 | 26759 |
| ROYAL BK CDA | COM | 780087102 |  | 9309390 | 99015 | SH |  | SOLE |  | 72009 | 0 | 27006 |
| Sysco Corp | COM | 871829107 |  | 9558314 | 125027 | SH |  | SOLE |  | 93092 | 0 | 31935 |
| Target Corp | COM | 87612E106 |  | 23220283 | 155799 | SH |  | SOLE |  | 114282 | 0 | 41517 |
| UnitedHealth Group Inc | COM | 91324P102 |  | 29470585 | 55586 | SH |  | SOLE |  | 49440 | 0 | 6146 |
| US BANCORP DEL | COM | 902973304 |  | 9892056 | 226830 | SH |  | SOLE |  | 167040 | 0 | 59790 |
| VISA INC | COM CL A | 92826C839 |  | 9974350 | 48009 | SH |  | SOLE |  | 38554 | 0 | 9455 |
| Medtronic PLC | SHS | G5960L103 |  | 2885125 | 37122 | SH |  | SOLE |  | 34122 | 0 | 3000 |
| VANGUARD TAX-MANAGED FDS | FTSE DEV MKT ETF | 921943858 |  | 1038506 | 24744 | SH |  | SOLE |  | 15074 | 0 | 9670 |
| PepsiCo Inc | COM | 713448108 |  | 16072959 | 88968 | SH |  | SOLE |  | 67271 | 0 | 21697 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 588528 | 4880 | SH |  | SOLE |  | 1075 | 0 | 3805 |
| SPDR SER TR | S DIVID ETF | 78464A763 |  | 1359320 | 10865 | SH |  | SOLE |  | 9491 | 0 | 1374 |
| AMCOR PLC | ORD | G0250X107 |  | 2379642 | 199802 | SH |  | SOLE |  | 179402 | 0 | 20400 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 1154871 | 3709 | SH |  | SOLE |  | 1609 | 0 | 2100 |
| Caterpillar Inc | COM | 149123101 |  | 2333314 | 9740 | SH |  | SOLE |  | 7840 | 0 | 1900 |
| C H ROBINSON WORLDWIDE INC | COM | 12541W209 |  | 4334450 | 47340 | SH |  | SOLE |  | 43044 | 0 | 4296 |
| CVS Health Corp | COM | 126650100 |  | 790997 | 8488 | SH |  | SOLE |  | 6491 | 0 | 1997 |
| DONALDSON INC | COM | 257651109 |  | 6453153 | 109617 | SH |  | SOLE |  | 97242 | 0 | 12375 |
| Fastenal Co | COM | 311900104 |  | 2943541 | 62205 | SH |  | SOLE |  | 43885 | 0 | 18320 |
| GENERAL MLS INC | COM | 370334104 |  | 8451745 | 100796 | SH |  | SOLE |  | 87336 | 0 | 13460 |
| Intel Corp | COM | 458140100 |  | 4612696 | 174525 | SH |  | SOLE |  | 162051 | 0 | 12474 |
| COCA COLA CO | COM | 191216100 |  | 2968991 | 46675 | SH |  | SOLE |  | 41750 | 0 | 4925 |
| Leggett  Platt Inc | COM | 524660107 |  | 2301383 | 71405 | SH |  | SOLE |  | 65545 | 0 | 5860 |
| Ross Stores Inc | COM | 778296103 |  | 2982883 | 25699 | SH |  | SOLE |  | 23699 | 0 | 2000 |
| Southern Co | COM | 842587107 |  | 3402615 | 47649 | SH |  | SOLE |  | 25613 | 0 | 22036 |
| STRYKER CORPORATION | COM | 863667101 |  | 10518693 | 43023 | SH |  | SOLE |  | 40953 | 0 | 2070 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 5165724 | 27552 | SH |  | SOLE |  | 25852 | 0 | 1700 |
| Xcel Energy Inc | COM | 98389B100 |  | 7000904 | 99856 | SH |  | SOLE |  | 75244 | 0 | 24612 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1508432 | 20965 | SH |  | SOLE |  | 18015 | 0 | 2950 |
| LILLY ELI  CO | COM | 532457108 |  | 8298349 | 22683 | SH |  | SOLE |  | 22683 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 18772911 | 49088 | SH |  | SOLE |  | 41620 | 0 | 7469 |
| VANGUARD BD INDEX FDS | TOTAL BND MRKT | 921937835 |  | 266957 | 3716 | SH |  | SOLE |  | 2617 | 0 | 1099 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 2385037 | 38693 | SH |  | SOLE |  | 35779 | 0 | 2914 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 690973 | 14796 | SH |  | SOLE |  | 10145 | 0 | 4651 |
| ISHARES TR | S MC 400GR ETF | 464287606 |  | 468060 | 6853 | SH |  | SOLE |  | 6583 | 0 | 270 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 2197983 | 6256 | SH |  | SOLE |  | 3679 | 0 | 2577 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 2195877 | 9078 | SH |  | SOLE |  | 7669 | 0 | 1409 |
| Aflac Inc | COM | 001055102 |  | 8063683 | 112089 | SH |  | SOLE |  | 86619 | 0 | 25470 |
| SPDR S MIDCAP 400 ETF TR | UTSER1 S | 78467Y107 |  | 6734393 | 15209 | SH |  | SOLE |  | 14210 | 0 | 999 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 7850466 | 77789 | SH |  | SOLE |  | 59914 | 0 | 17875 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 6813466 | 39077 | SH |  | SOLE |  | 35038 | 0 | 4039 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 2047915 | 21639 | SH |  | SOLE |  | 20554 | 0 | 1085 |
| Kimberly-Clark Corp | COM | 494368103 |  | 5246330 | 38647 | SH |  | SOLE |  | 35512 | 0 | 3135 |
| TJX COS INC NEW | COM | 872540109 |  | 9593631 | 120523 | SH |  | SOLE |  | 108083 | 0 | 12440 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 792562 | 19195 | SH |  | SOLE |  | 16965 | 0 | 2230 |
| AT Inc | COM | 00206R102 |  | 3448285 | 187305 | SH |  | SOLE |  | 150894 | 0 | 36411 |
| Verizon Communications Inc | COM | 92343V104 |  | 6088191 | 154523 | SH |  | SOLE |  | 118444 | 0 | 36079 |
| WILLIAMS COS INC | COM | 969457100 |  | 468200 | 14231 | SH |  | SOLE |  | 804 | 0 | 13427 |
| Exxon Mobil Corp | COM | 30231G102 |  | 6677998 | 60544 | SH |  | SOLE |  | 41026 | 0 | 19518 |
| AbbVie Inc | COM | 00287Y109 |  | 11930858 | 73825 | SH |  | SOLE |  | 53123 | 0 | 20702 |
| EMERSON ELEC CO | COM | 291011104 |  | 3768338 | 39229 | SH |  | SOLE |  | 33219 | 0 | 6010 |
| Genuine Parts Co | COM | 372460105 |  | 5356254 | 30870 | SH |  | SOLE |  | 27890 | 0 | 2980 |
| HONEYWELL INTL INC | COM | 438516106 |  | 4500514 | 21001 | SH |  | SOLE |  | 19356 | 0 | 1645 |
| Phillips 66 | COM | 718546104 |  | 623647 | 5992 | SH |  | SOLE |  | 5280 | 0 | 712 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 2148108 | 25800 | SH |  | SOLE |  | 25510 | 0 | 290 |
| WALMART INC | COM | 931142103 |  | 3141216 | 22154 | SH |  | SOLE |  | 17904 | 0 | 4250 |
| APA CORPORATION | COM | 03743Q108 |  | 1550803 | 33222 | SH |  | SOLE |  | 140 | 0 | 33082 |
| Conagra Brands Inc | COM | 205887102 |  | 1335537 | 34510 | SH |  | SOLE |  | 30010 | 0 | 4500 |
| UNION PAC CORP | COM | 907818108 |  | 1045704 | 5050 | SH |  | SOLE |  | 2159 | 0 | 2891 |
| SELECT SECTOR SPDR TR | SBI MATERIALS | 81369Y100 |  | 1679053 | 21615 | SH |  | SOLE |  | 16890 | 0 | 4725 |
| SELECT SECTOR SPDR TR | SBI INT-FINL | 81369Y605 |  | 971793 | 28415 | SH |  | SOLE |  | 21650 | 0 | 6765 |
| SELECT SECTOR SPDR TR | SBI INT-INDS | 81369Y704 |  | 952146 | 9695 | SH |  | SOLE |  | 7990 | 0 | 1705 |
| SELECT SECTOR SPDR TR | RL EST SEL SEC | 81369Y860 |  | 1785750 | 48355 | SH |  | SOLE |  | 38220 | 0 | 10135 |
| FULLER H B CO | COM | 359694106 |  | 537150 | 7500 | SH |  | SOLE |  | 2000 | 0 | 5500 |
| Merck  Co Inc | COM | 58933Y105 |  | 2948163 | 26572 | SH |  | SOLE |  | 22262 | 0 | 4310 |
| NVENT ELECTRIC PLC | SHS | G6700G107 |  | 4079166 | 106035 | SH |  | SOLE |  | 5120 | 0 | 100915 |
| Pfizer Inc | COM | 717081103 |  | 2496157 | 48715 | SH |  | SOLE |  | 39385 | 0 | 9330 |
| Pentair PLC | SHS | G7S00T104 |  | 5085664 | 113065 | SH |  | SOLE |  | 10750 | 0 | 102315 |
| WALGREENS BOOTS ALLIANCE INC | COM | 931427108 |  | 3527344 | 94415 | SH |  | SOLE |  | 67445 | 0 | 26970 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 1150231 | 13150 | SH |  | SOLE |  | 9750 | 0 | 3400 |
| CLOROX CO DEL | COM | 189054109 |  | 1375936 | 9805 | SH |  | SOLE |  | 7230 | 0 | 2575 |
| FedEx Corp | COM | 31428X106 |  | 1649557 | 9524 | SH |  | SOLE |  | 8474 | 0 | 1050 |
| SMUCKER J M CO | COM NEW | 832696405 |  | 732085 | 4620 | SH |  | SOLE |  | 4420 | 0 | 200 |
| TYSON FOODS INC | CL A | 902494103 |  | 722474 | 11606 | SH |  | SOLE |  | 11606 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 817956 | 20984 | SH |  | SOLE |  | 17513 | 0 | 3471 |
| ConocoPhillips | COM | 20825C104 |  | 1442078 | 12221 | SH |  | SOLE |  | 10596 | 0 | 1625 |
| FEDERATED HERMES INC | CL B | 314211103 |  | 1490162 | 41040 | SH |  | SOLE |  | 39140 | 0 | 1900 |
| JOHNSON CTLS INTL PLC | SHS | G51502105 |  | 1229632 | 19213 | SH |  | SOLE |  | 16838 | 0 | 2375 |
| Tractor Supply Co | COM | 892356106 |  | 1982886 | 8814 | SH |  | SOLE |  | 8654 | 0 | 160 |
| AMAZON COM INC | COM | 023135106 |  | 446796 | 5319 | SH |  | SOLE |  | 4919 | 0 | 400 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 1919377 | 31301 | SH |  | SOLE |  | 19381 | 0 | 11920 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 1558556 | 23744 | SH |  | SOLE |  | 20599 | 0 | 3145 |
| ISHARES TR | GLOBAL 100 ETF | 464287572 |  | 206241 | 3220 | SH |  | SOLE |  | 2000 | 0 | 1220 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 675146 | 4452 | SH |  | SOLE |  | 2602 | 0 | 1850 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 1441869 | 6730 | SH |  | SOLE |  | 3966 | 0 | 2764 |
| Stanley Black  Decker Inc | COM | 854502101 |  | 364032 | 4846 | SH |  | SOLE |  | 4846 | 0 | 0 |
| American Express Co | COM | 025816109 |  | 1259273 | 8523 | SH |  | SOLE |  | 6123 | 0 | 2400 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 423173 | 3115 | SH |  | SOLE |  | 2945 | 0 | 170 |
| LOWES COS INC | COM | 548661107 |  | 1468399 | 7370 | SH |  | SOLE |  | 6270 | 0 | 1100 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 2962658 | 31908 | SH |  | SOLE |  | 29508 | 0 | 2400 |
| Graco Inc | COM | 384109104 |  | 4427255 | 65823 | SH |  | SOLE |  | 61813 | 0 | 4010 |
| CELANESE CORP DEL | COM | 150870103 |  | 541668 | 5298 | SH |  | SOLE |  | 2458 | 0 | 2840 |
| DISNEY WALT CO | COM | 254687106 |  | 371473 | 4276 | SH |  | SOLE |  | 3851 | 0 | 425 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 296476 | 2138 | SH |  | SOLE |  | 438 | 0 | 1700 |
| ISHARES TR | RUS 2000 GRW ETF | 464287648 |  | 423263 | 1973 | SH |  | SOLE |  | 910 | 0 | 1063 |
| NextEra Energy Inc | COM | 65339F101 |  | 1222734 | 14626 | SH |  | SOLE |  | 14626 | 0 | 0 |
| United Parcel Service Inc | CL B | 911312106 |  | 3480798 | 20023 | SH |  | SOLE |  | 18523 | 0 | 1500 |
| Berkshire Hathaway Inc Del | CL B NEW | 084670702 |  | 730549 | 2365 | SH |  | SOLE |  | 2365 | 0 | 0 |
| MDU RES GROUP INC | COM | 552690109 |  | 797578 | 26288 | SH |  | SOLE |  | 20588 | 0 | 5700 |
| NORTHERN TR CORP | COM | 665859104 |  | 530498 | 5995 | SH |  | SOLE |  | 5995 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 240294 | 1931 | SH |  | SOLE |  | 1931 | 0 | 0 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 4631003 | 55876 | SH |  | SOLE |  | 54361 | 0 | 1515 |
| ASSOCIATED BANC CORP | COM | 045487105 |  | 25789475 | 1116911 | SH |  | SOLE |  | 1116111 | 0 | 800 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 637770 | 4200 | SH |  | SOLE |  | 4200 | 0 | 0 |
| Church  Dwight Co Inc | COM | 171340102 |  | 639640 | 7935 | SH |  | SOLE |  | 6085 | 0 | 1850 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 421271 | 1050 | SH |  | SOLE |  | 465 | 0 | 585 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 645314 | 7314 | SH |  | SOLE |  | 6714 | 0 | 600 |
| KLA CORP | COM NEW | 482480100 |  | 1123549 | 2980 | SH |  | SOLE |  | 2015 | 0 | 965 |
| Nike Inc | CL B | 654106103 |  | 4728608 | 40412 | SH |  | SOLE |  | 40412 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 1831626 | 15850 | SH |  | SOLE |  | 14690 | 0 | 1160 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 353679 | 4966 | SH |  | SOLE |  | 4966 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 364095 | 5398 | SH |  | SOLE |  | 4438 | 0 | 960 |
| Boeing Co | COM | 097023105 |  | 276972 | 1454 | SH |  | SOLE |  | 1264 | 0 | 190 |
| CenterPoint Energy Inc | COM | 15189T107 |  | 2598514 | 86646 | SH |  | SOLE |  | 83491 | 0 | 3155 |
| DANAHER CORPORATION | COM | 235851102 |  | 6599403 | 24864 | SH |  | SOLE |  | 24564 | 0 | 300 |
| General Electric Co | COM NEW | 369604301 |  | 294689 | 3517 | SH |  | SOLE |  | 3505 | 0 | 12 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 851900 | 3867 | SH |  | SOLE |  | 3367 | 0 | 500 |
| McCormick  Co Inc | COM NON VTG | 579780206 |  | 3318667 | 40037 | SH |  | SOLE |  | 36329 | 0 | 3708 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 466828 | 1967 | SH |  | SOLE |  | 1967 | 0 | 0 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 1170095 | 10993 | SH |  | SOLE |  | 4691 | 0 | 6302 |
| ISHARES TR | EAFE GRWTH ETF | 464288885 |  | 1136372 | 13567 | SH |  | SOLE |  | 12820 | 0 | 747 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 281115 | 8039 | SH |  | SOLE |  | 6039 | 0 | 2000 |
| PRINCIPAL FINANCIAL GROUP IN | COM | 74251V102 |  | 594154 | 7080 | SH |  | SOLE |  | 6080 | 0 | 1000 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 571756 | 5895 | SH |  | SOLE |  | 3740 | 0 | 2155 |
| Novartis Ag | SPONSORED ADR | 66987V109 |  | 2004368 | 22094 | SH |  | SOLE |  | 21944 | 0 | 150 |
| TEXAS INSTRS INC | COM | 882508104 |  | 382484 | 2315 | SH |  | SOLE |  | 1835 | 0 | 480 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 691207 | 7790 | SH |  | SOLE |  | 7190 | 0 | 600 |
| PROSHARES TR | S 500 DV ARIST | 74348A467 |  | 638929 | 7100 | SH |  | SOLE |  | 7100 | 0 | 0 |
| ISHARES TR | RUS 1000 ETF | 464287622 |  | 354937 | 1686 | SH |  | SOLE |  | 1686 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 458325 | 1575 | SH |  | SOLE |  | 1575 | 0 | 0 |
| Linde PLC | SHS | G5494J103 |  | 1065956 | 3268 | SH |  | SOLE |  | 3268 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 1690308 | 22200 | SH |  | SOLE |  | 22200 | 0 | 0 |
| APTARGROUP INC | COM | 038336103 |  | 230958 | 2100 | SH |  | SOLE |  | 2100 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 1554659 | 15382 | SH |  | SOLE |  | 15382 | 0 | 0 |
| FORTIVE CORP | COM | 34959J108 |  | 244150 | 3800 | SH |  | SOLE |  | 3800 | 0 | 0 |
| INGERSOLL RAND INC | COM | 45687V106 |  | 211090 | 4040 | SH |  | SOLE |  | 4040 | 0 | 0 |
| METTLER TOLEDO INTERNATIONAL | COM | 592688105 |  | 2095903 | 1450 | SH |  | SOLE |  | 1450 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 1059158 | 10677 | SH |  | SOLE |  | 10677 | 0 | 0 |
| ZEBRA TECHNOLOGIES CORPORATI | CL A | 989207105 |  | 1508973 | 5885 | SH |  | SOLE |  | 5885 | 0 | 0 |
| GLOBE LIFE INC | COM | 37959E102 |  | 1808250 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| Morgan Stanley | COM NEW | 617446448 |  | 2517952 | 29616 | SH |  | SOLE |  | 29616 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 380265 | 833 | SH |  | SOLE |  | 733 | 0 | 100 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 544892 | 2850 | SH |  | SOLE |  | 250 | 0 | 2600 |
| McKesson Corp | COM | 58155Q103 |  | 1237896 | 3300 | SH |  | SOLE |  | 0 | 0 | 3300 |
| HUBBELL INC | COM | 443510607 |  | 938720 | 4000 | SH |  | SOLE |  | 0 | 0 | 4000 |
| Omnicom Group Inc | COM | 681919106 |  | 289574 | 3550 | SH |  | SOLE |  | 200 | 0 | 3350 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 175688 | 11008 | SH |  | SOLE |  | 11008 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 212213 | 1568 | SH |  | SOLE |  | 973 | 0 | 595 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 215505 | 2250 | SH |  | SOLE |  | 0 | 0 | 2250 |
| SPDR DOW JONES INDL AVRG ETF | UT SER 1 | 78467X109 |  | 248498 | 750 | SH |  | SOLE |  | 500 | 0 | 250 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 464820 | 6230 | SH |  | SOLE |  | 3980 | 0 | 2250 |
| ISHARES TR | S 500 GRWT ETF | 464287309 |  | 313108 | 5352 | SH |  | SOLE |  | 0 | 0 | 5352 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 289357 | 1980 | SH |  | SOLE |  | 1980 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 267738 | 1009 | SH |  | SOLE |  | 1009 | 0 | 0 |
| CABLE ONE INC | COM | 12685J105 |  | 235626 | 331 | SH |  | SOLE |  | 331 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 290975 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| SCHWAB STRATEGIC TR | INTL EQTY ETF | 808524805 |  | 219253 | 6807 | SH |  | SOLE |  | 6807 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 |  | 352590 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| ISHARES TR | S 100 ETF | 464287101 |  | 263872 | 1547 | SH |  | SOLE |  | 1547 | 0 | 0 |

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