MARTIN CAPITAL MANAGEMENT LLC Last Quarter Change: USA Stocks, Added

MARTIN CAPITAL MANAGEMENT LLC quarter change: USA Stocks, Added

In share positions in stocks (listed in the US), from the quarter ended 2015-03-31 to 2015-06-30, MARTIN CAPITAL MANAGEMENT LLC opened 2 positions, added to 6, reduced 4, sold out of 0 and left 0 unchanged. The largest increase in value was GRMN (+$553,000); the largest decrease was TRV (-$562,000).

GRMN: Country of operation —; Class COM; Shares 2015-03-31 25,982; Shares 2015-06-30 40,706.
GNTX: Country of operation United States; Class COM; Shares 2015-03-31 274,008; Shares 2015-06-30 294,970.
SYK: Country of operation United States; Class COM; Shares 2015-03-31 16,529; Shares 2015-06-30 17,626.
WMT: Country of operation United States; Class COM; Shares 2015-03-31 38,868; Shares 2015-06-30 42,958.

Two Form 13F-HR filings compared (SEC CIK 1132943): 2015-03-31 (filed 2015-05-19) and 2015-06-30 (filed 2015-08-13). Rows for the same security, class and put/call are added together. Value change is the filed value at each quarter end, so it includes the price move; share change is the position change.

Stock	Country of operation	Class	Shares 2015-03-31	Shares 2015-06-30	Share change	Value 2015-03-31	Value 2015-06-30	Value change
GRMN GARMIN LTD.		COM	25,982	40,706	+14,724	$1,235,000	$1,788,000	+$553,000
GNTX GENTEX CORP	United States	COM	274,008	294,970	+20,962	$5,014,000	$4,843,000	-$171,000
SYK STRYKER CORPORATION	United States	COM	16,529	17,626	+1,097	$1,525,000	$1,685,000	+$160,000
WMT WAL MART STORES	United States	COM	38,868	42,958	+4,090	$3,197,000	$3,047,000	-$150,000
BRKB BERKSHIRE HATHAWAY - B		COM	39,843	43,336	+3,493	$5,750,000	$5,898,000	+$148,000
HP HELMERICH & PAYNE INC.	United States	COM	36,793	37,351	+558	$2,504,000	$2,630,000	+$126,000

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