Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
WFC	WELLS FARGO & CO NEW	463,458,123	$24.36B	22.6%	$52.56	—	—	COM	949746101
KO	COCA COLA CO	400,000,000	$16.94B	15.8%	$42.36	—	—	COM	191216100
AXP	AMERICAN EXPRESS CO	151,610,700	$14.38B	13.4%	$94.87	—	—	COM	025816109
IBM	INTERNATIONAL BUSINESS MACHS	70,173,978	$12.72B	11.8%	$181.27	—	—	COM	459200101
WMT	WAL MART STORES INC	58,797,259	$4.414B	4.1%	$75.07	—	—	COM	931142103
PG	PROCTER & GAMBLE CO	52,793,078	$4.149B	3.9%	$78.59	—	—	COM	742718109
XOM	EXXON MOBIL CORP	41,129,643	$4.141B	3.8%	$100.68	—	—	COM	30231G102
USB	US BANCORP DEL	80,094,497	$3.47B	3.2%	$43.32	—	—	COM NEW	902973304
DVA	DAVITA HEALTHCARE PARTNERS I	37,621,152	$2.721B	2.5%	$72.32	—	—	COM	23918K108
MCO	MOODYS CORP	24,669,778	$2.163B	2.0%	$87.66	—	—	COM	615369105
GS	GOLDMAN SACHS GROUP INC	12,631,531	$2.115B	2.0%	$167.44	—	—	COM	38141G104
—	DIRECTV	23,467,995	$1.995B	1.9%	$85.01	—	—	COM	25490A309
GM	GENERAL MTRS CO	32,960,056	$1.196B	1.1%	$36.30	—	—	COM	37045V100
—	U S G CORP	39,002,016	$1.175B	1.1%	$30.13	—	—	COM NEW	903293405
BK	BANK OF NEW YORK MELLON CORP	24,652,836	$924M	0.9%	$37.48	—	—	COM	064058100
VZ	VERIZON COMMUNICATIONS INC	15,000,928	$734M	0.7%	$48.93	—	—	COM	92343V104
—	CHICAGO BRIDGE & IRON CO N V	10,701,110	$730M	0.7%	$68.20	—	—	N Y REGISTRY SH	167250109
SU	SUNCOR ENERGY INC NEW	16,458,330	$702M	0.7%	$42.63	—	—	COM	867224107
MTB	M & T BK CORP	5,382,040	$668M	0.6%	$124.05	—	—	COM	55261F104
—	VIACOM INC NEW	7,607,200	$660M	0.6%	$86.73	—	—	CL B	92553P201
VRSN	VERISIGN INC	12,985,000	$634M	0.6%	$48.81	—	—	COM	92343E102
—	NATIONAL OILWELL VARCO INC	7,302,278	$601M	0.6%	$82.35	—	—	COM	637071101
—	LIBERTY MEDIA CORP DELAWARE	4,000,000	$547M	0.5%	$136.68	—	—	CL A	531229102
PSX	PHILLIPS 66	6,495,800	$522M	0.5%	$80.43	—	—	COM	718546104
COST	COSTCO WHSL CORP NEW	4,333,363	$499M	0.5%	$115.16	—	—	COM	22160K105
—	PRECISION CASTPARTS CORP	1,876,622	$474M	0.4%	$252.40	—	—	COM	740189105
LBTYAUSD	LIBERTY GLOBAL PLC	9,866,546	$436M	0.4%	$44.22	—	—	SHS CL A	G5480U104
—	WABCO HLDGS INC	4,076,325	$435M	0.4%	$106.82	—	—	COM	92927K102
V	VISA INC	1,799,749	$379M	0.4%	$210.71	—	—	COM CL A	92826C839
—	CHARTER COMMUNICATIONS INC D	2,309,013	$366M	0.3%	$158.38	—	—	CL A NEW	16117M305
DE	DEERE & CO	3,978,767	$360M	0.3%	$90.55	—	—	COM	244199105
—	TORCHMARK CORP	4,235,818	$347M	0.3%	$81.92	—	—	COM	891027104
—	LIBERTY GLOBAL PLC	7,346,968	$311M	0.3%	$42.31	—	—	SHS CL C	G5480U120
MA	MASTERCARD INC	4,050,000	$298M	0.3%	$73.47	—	—	CL A	57636Q104
—	GENERAL ELECTRIC CO	10,585,502	$278M	0.3%	$26.28	—	—	COM	369604103
SNY	SANOFI	3,905,875	$208M	0.2%	$53.17	—	—	SPONSORED ADR	80105N105
COP	CONOCOPHILLIPS	1,355,228	$116M	0.1%	$85.73	—	—	COM	20825C104
—	MEDIA GEN INC	4,646,220	$95.39M	0.1%	$20.53	—	—	CL A	584404107
VRSK	VERISK ANALYTICS INC	1,563,434	$93.84M	0.1%	$60.02	—	—	CL A	92345Y106
GHC	GRAHAM HLDGS CO	107,575	$77.25M	0.1%	$718.11	—	—	COM	384637104
DNOW	NOW INC	1,825,569	$66.1M	0.1%	$36.21	—	—	COM	67011P100
JNJ	JOHNSON & JOHNSON	327,100	$34.22M	0.0%	$104.62	—	—	COM	478160104
MDLZ	MONDELEZ INTL INC	578,000	$21.74M	0.0%	$37.61	—	—	CL A	609207105
—	KRAFT FOODS GROUP INC	192,666	$11.55M	0.0%	$59.95	—	—	COM	50076Q106
UPS	UNITED PARCEL SERVICE INC	59,400	$6.098M	0.0%	$102.66	—	—	CL B	911312106
—	LEE ENTERPRISES INC	88,863	$395K	0.0%	$4.45	—	—	COM	523768109