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
Allergan plc COMMON STOCK G0177J108 90,271,842 390,635 SH   SOLE 0 365,664 0 24,971
Biogen, Inc. COMMON STOCK 09062x103 93,562,818 386,911 SH   SOLE 0 362,420 0 24,491
Bristol-Myers Squibb Co. COMMON STOCK 110122108 94,956,360 1,291,045 SH   SOLE 0 1,214,669 0 76,376
Celgene Corp. COMMON STOCK 151020104 91,862,897 931,389 SH   SOLE 0 873,025 0 58,364
Gilead Sciences, Inc. COMMON STOCK 375558103 93,296,928 1,118,400 SH   SOLE 0 1,048,487 0 69,913
HCA Holdings, Inc. COMMON STOCK 40412c101 92,357,708 1,199,295 SH   SOLE 0 1,124,470 0 74,825
UnitedHealth Group, Inc. COMMON STOCK 91324p102 94,809,587 671,456 SH   SOLE 0 632,149 0 39,307
Comcast Corp. Cl. A COMMON STOCK 20030n101 96,672,859 1,482,940 SH   SOLE 0 1,391,324 0 91,616
Disney, Walt Co. COMMON STOCK 254687106 93,147,530 952,234 SH   SOLE 0 892,861 0 59,373
Dollar Tree, Inc. COMMON STOCK 256746108 94,632,415 1,004,164 SH   SOLE 0 945,347 0 58,817
TJX Companies, Inc. COMMON STOCK 872540109 95,149,522 1,232,028 SH   SOLE 0 1,155,772 0 76,256
CVS Health Corp. COMMON STOCK 126650100 93,283,982 974,347 SH   SOLE 0 913,620 0 60,727
Estee Lauder Cos. COMMON STOCK 518439104 93,156,695 1,023,475 SH   SOLE 0 959,571 0 63,904
Kraft Heinz Company COMMON STOCK 500754106 97,332,247 1,100,048 SH   SOLE 0 1,035,366 0 64,682
Kroger Company COMMON STOCK 501044101 95,811,866 2,604,291 SH   SOLE 0 2,452,807 0 151,484
Adobe Systems, Inc. COMMON STOCK 00724f101 92,999,158 970,865 SH   SOLE 0 909,764 0 61,101
Alphabet Inc. Class A COMMON STOCK 02079K305 90,288,226 128,336 SH   SOLE 0 120,176 0 8,160
Apple, Inc. COMMON STOCK 037833100 91,690,342 959,104 SH   SOLE 0 898,289 0 60,815
Mastercard Inc COMMON STOCK 57636Q104 88,068,718 1,000,099 SH   SOLE 0 937,388 0 62,711
PayPal Holdings, Inc. COMMON STOCK 70450Y103 92,867,347 2,543,614 SH   SOLE 0 2,381,455 0 162,159
Consumer Discretionary Select Sect SPDR Fd COMMON STOCK 81369y407 1,930,736 24,734 SH   SOLE 0 24,734 0 0
Consumer Staples Select Sector SPDR Fund COMMON STOCK 81369Y308 2,030,678 36,821 SH   SOLE 0 36,821 0 0
Health Care Select Sector SPDR Fund COMMON STOCK 81369y209 3,419,516 47,692 SH   SOLE 0 47,692 0 0
SPDR Tr Unit Ser 1 COMMON STOCK 78462F103 396,108 1,891 SH   SOLE 0 1,891 0 0
Technology Select Sector SPDR Fund COMMON STOCK 81369y803 2,423,949 55,890 SH   SOLE 0 55,890 0 0
Vanguard FTSE All-World ex-US ETF COMMON STOCK 922042775 3,392,349 79,168 SH   SOLE 0 79,168 0 0
Vanguard FTSE Pacific ETF COMMON STOCK 922042866 760,380 13,644 SH   SOLE 0 13,644 0 0
iShares 1-3 Year Credit Bond ETF COMMON STOCK 464288646 1,338,219 12,614 SH   SOLE 0 12,614 0 0
iShares Barclays 7-10 Yr Trsy Bond Fd COMMON STOCK 464287440 341,674 3,025 SH   SOLE 0 3,025 0 0
iShares Core MSCI Europe ETF COMMON STOCK 46434V738 1,078,551 27,312 SH   SOLE 0 27,312 0 0
iShares Russell 3000 ETF COMMON STOCK 464287689 43,407 350 SH   SOLE 0 350 0 0
iShares iBoxx $ Invest. Grade Corp Bd ETF COMMON STOCK 464287242 681,152 5,550 SH   SOLE 0 5,550 0 0