Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
WFC	WELLS FARGO & CO NEW	463,458,123	$24.04B	22.2%	$51.87	—	—	COM	949746101
KO	COCA COLA CO	400,000,000	$17.06B	15.7%	$42.66	—	—	COM	191216100
IBM	INTERNATIONAL BUSINESS MACHS	70,478,012	$13.38B	12.3%	$189.83	—	—	COM	459200101
AXP	AMERICAN EXPRESS CO	151,610,700	$13.27B	12.2%	$87.54	—	—	COM	025816109
WMT	WAL MART STORES INC	60,385,293	$4.618B	4.3%	$76.47	—	—	COM	931142103
PG	PROCTER & GAMBLE CO	52,793,078	$4.421B	4.1%	$83.74	—	—	COM	742718109
XOM	EXXON MOBIL CORP	41,129,643	$3.868B	3.6%	$94.05	—	—	COM	30231G102
USB	US BANCORP DEL	80,094,497	$3.35B	3.1%	$41.83	—	—	COM NEW	902973304
DVA	DAVITA HEALTHCARE PARTNERS I	37,621,152	$2.752B	2.5%	$73.14	—	—	COM	23918K108
—	DIRECTV	30,000,000	$2.596B	2.4%	$86.52	—	—	COM	25490A309
MCO	MOODYS CORP	24,669,778	$2.331B	2.2%	$94.50	—	—	COM	615369105
GS	GOLDMAN SACHS GROUP INC	12,631,531	$2.319B	2.1%	$183.57	—	—	COM	38141G104
GM	GENERAL MTRS CO	40,000,000	$1.278B	1.2%	$31.94	—	—	COM	37045V100
—	U S G CORP	39,002,016	$1.072B	1.0%	$27.49	—	—	COM NEW	903293405
BK	BANK OF NEW YORK MELLON CORP	23,377,603	$905M	0.8%	$38.73	—	—	COM	064058100
VZ	VERIZON COMMUNICATIONS INC	15,000,928	$750M	0.7%	$49.99	—	—	COM	92343V104
—	CHARTER COMMUNICATIONS INC D	4,950,096	$749M	0.7%	$151.37	—	—	CL A NEW	16117M305
VRSN	VERISIGN INC	12,985,000	$716M	0.7%	$55.12	—	—	COM	92343E102
SU	SUNCOR ENERGY INC NEW	18,477,730	$668M	0.6%	$36.15	—	—	COM	867224107
MTB	M & T BK CORP	5,382,040	$664M	0.6%	$123.29	—	—	COM	55261F104
DE	DEERE & CO	7,567,397	$620M	0.6%	$81.99	—	—	COM	244199105
—	CHICAGO BRIDGE & IRON CO N V	10,701,110	$619M	0.6%	$57.85	—	—	N Y REGISTRY SH	167250109
—	VIACOM INC NEW	7,708,200	$593M	0.5%	$76.94	—	—	CL B	92553P201
COST	COSTCO WHSL CORP NEW	4,333,363	$543M	0.5%	$125.32	—	—	COM	22160K105
PSX	PHILLIPS 66	6,202,400	$504M	0.5%	$81.31	—	—	COM	718546104
—	PRECISION CASTPARTS CORP	2,082,222	$493M	0.5%	$236.88	—	—	COM	740189105
—	NATIONAL OILWELL VARCO INC	6,382,360	$486M	0.4%	$76.10	—	—	COM	637071101
V	VISA INC	2,146,290	$458M	0.4%	$213.37	—	—	COM CL A	92826C839
LBTYAUSD	LIBERTY GLOBAL PLC	10,401,007	$442M	0.4%	$42.54	—	—	SHS CL A	G5480U104
—	LIBERTY MEDIA CORP DELAWARE	8,000,000	$376M	0.3%	$46.99	—	—	COM SER C	531229300
—	WABCO HLDGS INC	4,076,325	$371M	0.3%	$90.95	—	—	COM	92927K102
MA	MASTERCARD INC	4,715,400	$349M	0.3%	$73.92	—	—	CL A	57636Q104
—	TORCHMARK CORP	6,353,727	$333M	0.3%	$52.37	—	—	COM	891027104
—	LIBERTY GLOBAL PLC	7,346,968	$301M	0.3%	$41.02	—	—	SHS CL C	G5480U120
—	GENERAL ELECTRIC CO	10,585,502	$271M	0.3%	$25.62	—	—	COM	369604103
SNY	SANOFI	3,905,875	$220M	0.2%	$56.43	—	—	SPONSORED ADR	80105N105
—	LIBERTY MEDIA CORP DELAWARE	4,000,000	$189M	0.2%	$47.18	—	—	CL A	531229102
VRSK	VERISK ANALYTICS INC	1,563,434	$95.2M	0.1%	$60.89	—	—	CL A	92345Y106
GHC	GRAHAM HLDGS CO	107,575	$75.26M	0.1%	$699.60	—	—	COM	384637104
—	MEDIA GEN INC	4,646,220	$60.91M	0.1%	$13.11	—	—	CL A	584404107
DNOW	NOW INC	1,825,569	$55.52M	0.1%	$30.41	—	—	COM	67011P100
COP	CONOCOPHILLIPS	471,994	$36.12M	0.0%	$76.52	—	—	COM	20825C104
JNJ	JOHNSON & JOHNSON	327,100	$34.87M	0.0%	$106.59	—	—	COM	478160104
—	EXPRESS SCRIPTS HLDG CO	449,489	$31.75M	0.0%	$70.63	—	—	COM	30219G108
MDLZ	MONDELEZ INTL INC	578,000	$19.8M	0.0%	$34.26	—	—	CL A	609207105
—	KRAFT FOODS GROUP INC	192,666	$10.87M	0.0%	$56.40	—	—	COM	50076Q106
UPS	UNITED PARCEL SERVICE INC	59,400	$5.838M	0.0%	$98.28	—	—	CL B	911312106
—	LEE ENTERPRISES INC	88,863	$300K	0.0%	$3.38	—	—	COM	523768109