Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
WFC	WELLS FARGO & CO NEW	470,292,359	$25.58B	23.9%	$54.40	—	—	COM	949746101
KO	COCA COLA CO	400,000,000	$16.22B	15.1%	$40.55	—	—	COM	191216100
IBM	INTERNATIONAL BUSINESS MACHS	79,565,115	$12.77B	11.9%	$160.50	—	—	COM	459200101
AXP	AMERICAN EXPRESS CO	151,610,700	$11.84B	11.1%	$78.12	—	—	COM	025816109
WMT	WAL MART STORES INC	60,385,293	$4.967B	4.6%	$82.25	—	—	COM	931142103
PG	PROCTER & GAMBLE CO	52,793,078	$4.326B	4.0%	$81.94	—	—	COM	742718109
USB	US BANCORP DEL	83,773,390	$3.658B	3.4%	$43.67	—	—	COM NEW	902973304
DVA	DAVITA HEALTHCARE PARTNERS I	38,565,570	$3.135B	2.9%	$81.28	—	—	COM	23918K108
—	DIRECTV	31,353,468	$2.668B	2.5%	$85.10	—	—	COM	25490A309
MCO	MOODYS CORP	24,669,778	$2.561B	2.4%	$103.80	—	—	COM	615369105
GS	GOLDMAN SACHS GROUP INC	12,631,531	$2.374B	2.2%	$187.97	—	—	COM	38141G104
GM	GENERAL MTRS CO	41,000,000	$1.538B	1.4%	$37.50	—	—	COM	37045V100
DE	DEERE & CO	17,310,090	$1.518B	1.4%	$87.69	—	—	COM	244199105
—	CHARTER COMMUNICATIONS INC D	5,979,136	$1.155B	1.1%	$193.11	—	—	CL A NEW	16117M305
—	U S G CORP	39,002,016	$1.041B	1.0%	$26.70	—	—	COM NEW	903293405
—	PRECISION CASTPARTS CORP	4,200,792	$882M	0.8%	$210.00	—	—	COM	740189105
VRSN	VERISIGN INC	12,985,000	$870M	0.8%	$66.97	—	—	COM	92343E102
BK	BANK OF NEW YORK MELLON CORP	20,680,420	$832M	0.8%	$40.24	—	—	COM	064058100
VZ	VERIZON COMMUNICATIONS INC	15,000,928	$729M	0.7%	$48.63	—	—	COM	92343V104
MTB	M & T BK CORP	5,382,040	$684M	0.6%	$127.00	—	—	COM	55261F104
COST	COSTCO WHSL CORP NEW	4,333,363	$656M	0.6%	$151.50	—	—	COM	22160K105
SU	SUNCOR ENERGY INC NEW	22,354,294	$654M	0.6%	$29.25	—	—	COM	867224107
V	VISA INC	9,885,160	$647M	0.6%	$65.41	—	—	COM CL A	92826C839
PSX	PHILLIPS 66	7,499,450	$589M	0.6%	$78.60	—	—	COM	718546104
—	VIACOM INC NEW	8,265,079	$565M	0.5%	$68.30	—	—	CL B	92553P201
LBTYAUSD	LIBERTY GLOBAL PLC	10,342,793	$532M	0.5%	$51.47	—	—	SHS CL A	G5480U104
—	CHICAGO BRIDGE & IRON CO N V	10,701,110	$527M	0.5%	$49.26	—	—	N Y REGISTRY SH	167250109
—	WABCO HLDGS INC	3,863,195	$475M	0.4%	$122.88	—	—	COM	92927K102
MA	MASTERCARD INC	5,229,756	$452M	0.4%	$86.39	—	—	CL A	57636Q104
—	LIBERTY GLOBAL PLC	7,346,968	$366M	0.3%	$49.81	—	—	SHS CL C	G5480U120
—	TORCHMARK CORP	6,353,727	$349M	0.3%	$54.92	—	—	COM	891027104
QSR	RESTAURANT BRANDS INTL INC	8,438,225	$324M	0.3%	$38.41	—	—	COM	76131D103
—	LIBERTY MEDIA CORP DELAWARE	8,000,000	$306M	0.3%	$38.20	—	—	COM SER C	531229300
—	GENERAL ELECTRIC CO	10,585,502	$263M	0.2%	$24.81	—	—	COM	369604103
—	TWENTY FIRST CENTY FOX INC	6,228,097	$211M	0.2%	$33.84	—	—	CL A	90130A101
SNY	SANOFI	3,905,875	$193M	0.2%	$49.44	—	—	SPONSORED ADR	80105N105
—	LIBERTY MEDIA CORP DELAWARE	4,000,000	$154M	0.1%	$38.55	—	—	CL A	531229102
GHC	GRAHAM HLDGS CO	107,575	$113M	0.1%	$1049.63	—	—	COM	384637104
VRSK	VERISK ANALYTICS INC	1,563,434	$112M	0.1%	$71.40	—	—	CL A	92345Y106
—	NATIONAL OILWELL VARCO INC	1,978,895	$98.92M	0.1%	$49.99	—	—	COM	637071101
—	MEDIA GEN INC NEW	4,646,220	$76.62M	0.1%	$16.49	—	—	COM	58441K100
DNOW	NOW INC	1,825,569	$39.51M	0.0%	$21.64	—	—	COM	67011P100
JNJ	JOHNSON & JOHNSON	327,100	$32.91M	0.0%	$100.60	—	—	COM	478160104
MDLZ	MONDELEZ INTL INC	578,000	$20.86M	0.0%	$36.09	—	—	CL A	609207105
—	KRAFT FOODS GROUP INC	192,666	$16.78M	0.0%	$87.11	—	—	COM	50076Q106
UPS	UNITED PARCEL SERVICE INC	59,400	$5.758M	0.0%	$96.94	—	—	CL B	911312106
—	LEE ENTERPRISES INC	88,863	$282K	0.0%	$3.17	—	—	COM	523768109