Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
WFC	WELLS FARGO & CO NEW	463,458,123	$25.41B	23.2%	$54.82	—	—	COM	949746101
KO	COCA COLA CO	400,000,000	$16.89B	15.4%	$42.22	—	—	COM	191216100
AXP	AMERICAN EXPRESS CO	151,610,700	$14.11B	12.9%	$93.04	—	—	COM	025816109
IBM	INTERNATIONAL BUSINESS MACHS	76,971,817	$12.35B	11.3%	$160.44	—	—	COM	459200101
WMT	WAL MART STORES INC	60,385,293	$5.186B	4.7%	$85.88	—	—	COM	931142103
PG	PROCTER & GAMBLE CO	52,793,078	$4.809B	4.4%	$91.09	—	—	COM	742718109
USB	US BANCORP DEL	80,094,497	$3.6B	3.3%	$44.95	—	—	COM NEW	902973304
DVA	DAVITA HEALTHCARE PARTNERS I	38,565,570	$2.921B	2.7%	$75.74	—	—	COM	23918K108
—	DIRECTV	31,353,468	$2.718B	2.5%	$86.70	—	—	COM	25490A309
GS	GOLDMAN SACHS GROUP INC	12,631,531	$2.448B	2.2%	$193.83	—	—	COM	38141G104
MCO	MOODYS CORP	24,669,778	$2.364B	2.2%	$95.81	—	—	COM	615369105
DE	DEERE & CO	17,096,886	$1.513B	1.4%	$88.47	—	—	COM	244199105
GM	GENERAL MTRS CO	41,000,000	$1.431B	1.3%	$34.91	—	—	COM	37045V100
—	U S G CORP	39,002,016	$1.092B	1.0%	$27.99	—	—	COM NEW	903293405
—	CHARTER COMMUNICATIONS INC D	6,198,237	$1.033B	0.9%	$166.62	—	—	CL A NEW	16117M305
BK	BANK OF NEW YORK MELLON CORP	22,012,603	$893M	0.8%	$40.57	—	—	COM	064058100
VRSN	VERISIGN INC	12,985,000	$740M	0.7%	$57.00	—	—	COM	92343E102
SU	SUNCOR ENERGY INC NEW	22,354,294	$710M	0.6%	$31.78	—	—	COM	867224107
VZ	VERIZON COMMUNICATIONS INC	15,000,928	$702M	0.6%	$46.78	—	—	COM	92343V104
—	PRECISION CASTPARTS CORP	2,853,688	$687M	0.6%	$240.88	—	—	COM	740189105
MTB	M & T BK CORP	5,382,040	$676M	0.6%	$125.62	—	—	COM	55261F104
V	VISA INC	2,509,290	$658M	0.6%	$262.20	—	—	COM CL A	92826C839
—	VIACOM INC NEW	8,634,190	$650M	0.6%	$75.25	—	—	CL B	92553P201
COST	COSTCO WHSL CORP NEW	4,333,363	$614M	0.6%	$141.75	—	—	COM	22160K105
LBTYAUSD	LIBERTY GLOBAL PLC	10,816,324	$543M	0.5%	$50.21	—	—	SHS CL A	G5480U104
PSX	PHILLIPS 66	6,567,600	$471M	0.4%	$71.70	—	—	COM	718546104
MA	MASTERCARD INC	5,399,756	$465M	0.4%	$86.16	—	—	CL A	57636Q104
—	CHICAGO BRIDGE & IRON CO N V	10,701,110	$449M	0.4%	$41.98	—	—	N Y REGISTRY SH	167250109
—	WABCO HLDGS INC	4,076,325	$427M	0.4%	$104.78	—	—	COM	92927K102
—	LIBERTY GLOBAL PLC	7,346,968	$355M	0.3%	$48.31	—	—	SHS CL C	G5480U120
—	NATIONAL OILWELL VARCO INC	5,258,385	$345M	0.3%	$65.53	—	—	COM	637071101
—	TORCHMARK CORP	6,353,727	$344M	0.3%	$54.17	—	—	COM	891027104
QSR	RESTAURANT BRANDS INTL INC	8,438,225	$329M	0.3%	$39.04	—	—	COM	76131D103
—	LIBERTY MEDIA CORP DELAWARE	8,000,000	$280M	0.3%	$35.03	—	—	COM SER C	531229300
—	GENERAL ELECTRIC CO	10,585,502	$267M	0.2%	$25.27	—	—	COM	369604103
—	TWENTY FIRST CENTY FOX INC	4,747,397	$182M	0.2%	$38.41	—	—	CL A	90130A101
SNY	SANOFI	3,905,875	$178M	0.2%	$45.61	—	—	SPONSORED ADR	80105N105
—	LIBERTY MEDIA CORP DELAWARE	4,000,000	$141M	0.1%	$35.27	—	—	CL A	531229102
VRSK	VERISK ANALYTICS INC	1,563,434	$100M	0.1%	$64.05	—	—	CL A	92345Y106
GHC	GRAHAM HLDGS CO	107,575	$92.91M	0.1%	$863.71	—	—	COM	384637104
—	MEDIA GEN INC NEW	4,646,220	$77.73M	0.1%	$16.73	—	—	COM	58441K100
DNOW	NOW INC	1,825,569	$46.97M	0.0%	$25.73	—	—	COM	67011P100
JNJ	JOHNSON & JOHNSON	327,100	$34.2M	0.0%	$104.57	—	—	COM	478160104
MDLZ	MONDELEZ INTL INC	578,000	$21M	0.0%	$36.33	—	—	CL A	609207105
—	KRAFT FOODS GROUP INC	192,666	$12.07M	0.0%	$62.66	—	—	COM	50076Q106
UPS	UNITED PARCEL SERVICE INC	59,400	$6.603M	0.0%	$111.16	—	—	CL B	911312106
—	LEE ENTERPRISES INC	88,863	$327K	0.0%	$3.68	—	—	COM	523768109