Instuitional Investor - Caldwell Sutter Capital, Inc.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Apple Inc.	AAPL	47,886	$9,824,815	4.5%
2.	Msa Safety Inc	MSA	33,299	$5,578,581	2.55%
3.	Perma-Pipe Intl Hldgs Inc		241,154	$5,515,192	2.53%
4.	Visa Inc.	V	14,024	$4,979,095	2.28%
5.	Donegal Group Inc	DGICA	226,028	$4,526,211	2.07%