Today I am making some minor changes to the conservative portfolio allocation model. I am lowering my exposure to Swiss engineering and robotics manufacturer ABB, Ltd. as continued headwinds in the company’s major markets are likely to stay depressed for 2016. Although the shares have strong total return potential to late decade with a yield of over 4%, sales are probably going to slip slightly this year, with only minor growth in 2017. I am therefore moving ABB down 2 percentage points to 7% from my September, 2015 view. However, I have become more sanguine on another diversified manufacturer: 3M Co. Although top line growth will be nothing to write home about, share buybacks and margin improvement will likely keep the shares near its all-time high. On a risk-adjusted basis, MMM looks very attractive at current levels and now has a 9% slice of the pie, up from 7%. I am maintaining the allocations for all the other conservative candidates at this time.