Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
WFC	WELLS FARGO & CO NEW	470,292,359	$26.45B	24.1%	$56.24	—	—	COM	949746101
KO	COCA COLA CO	400,000,000	$15.69B	14.3%	$39.23	—	—	COM	191216100
IBM	INTERNATIONAL BUSINESS MACHS	79,565,115	$12.94B	11.8%	$162.66	—	—	COM	459200101
AXP	AMERICAN EXPRESS CO	151,610,700	$11.78B	10.8%	$77.72	—	—	COM	025816109
WMT	WAL MART STORES INC	60,385,293	$4.283B	3.9%	$70.93	—	—	COM	931142103
PG	PROCTER & GAMBLE CO	52,793,078	$4.131B	3.8%	$78.24	—	—	COM	742718109
USB	US BANCORP DEL	85,063,167	$3.692B	3.4%	$43.40	—	—	COM NEW	902973304
DVA	DAVITA HEALTHCARE PARTNERS I	38,565,570	$3.065B	2.8%	$79.47	—	—	COM	23918K108
—	DIRECTV	31,353,468	$2.909B	2.7%	$92.79	—	—	COM	25490A309
MCO	MOODYS CORP	24,669,778	$2.663B	2.4%	$107.96	—	—	COM	615369105
GS	GOLDMAN SACHS GROUP INC	12,631,531	$2.637B	2.4%	$208.79	—	—	COM	38141G104
PSX	PHILLIPS 66	29,697,948	$2.392B	2.2%	$80.56	—	—	COM	718546104
DE	DEERE & CO	17,310,090	$1.68B	1.5%	$97.05	—	—	COM	244199105
—	CHARTER COMMUNICATIONS INC D	8,514,678	$1.458B	1.3%	$171.25	—	—	CL A NEW	16117M305
GM	GENERAL MTRS CO	41,000,000	$1.367B	1.2%	$33.33	—	—	COM	37045V100
—	U S G CORP	39,002,016	$1.084B	1.0%	$27.79	—	—	COM NEW	903293405
BK	BANK OF NEW YORK MELLON CORP	20,680,420	$868M	0.8%	$41.97	—	—	COM	064058100
—	PRECISION CASTPARTS CORP	4,200,792	$840M	0.8%	$199.87	—	—	COM	740189105
VRSN	VERISIGN INC	12,985,000	$801M	0.7%	$61.72	—	—	COM	92343E102
VZ	VERIZON COMMUNICATIONS INC	15,000,928	$699M	0.6%	$46.61	—	—	COM	92343V104
MTB	M & T BK CORP	5,382,040	$672M	0.6%	$124.93	—	—	COM	55261F104
V	VISA INC	9,885,160	$664M	0.6%	$67.15	—	—	COM CL A	92826C839
AXTA	AXALTA COATING SYS LTD	20,000,000	$662M	0.6%	$33.08	—	—	COM	G0750C108
SU	SUNCOR ENERGY INC NEW	22,354,294	$615M	0.6%	$27.52	—	—	COM	867224107
COST	COSTCO WHSL CORP NEW	4,333,363	$585M	0.5%	$135.06	—	—	COM	22160K105
LBTYAUSD	LIBERTY GLOBAL PLC	10,342,793	$559M	0.5%	$54.07	—	—	SHS CL A	G5480U104
MA	MASTERCARD INC	5,229,756	$489M	0.4%	$93.48	—	—	CL A	57636Q104
—	WABCO HLDGS INC	3,777,195	$467M	0.4%	$123.72	—	—	COM	92927K102
—	CHICAGO BRIDGE & IRON CO N V	9,326,921	$467M	0.4%	$50.04	—	—	N Y REGISTRY SH	167250109
—	LIBERTY GLOBAL PLC	7,346,968	$372M	0.3%	$50.63	—	—	SHS CL C	G5480U120
—	TORCHMARK CORP	6,353,727	$370M	0.3%	$58.22	—	—	COM	891027104
—	VIACOM INC NEW	5,646,721	$365M	0.3%	$64.64	—	—	CL B	92553P201
QSR	RESTAURANT BRANDS INTL INC	8,438,225	$322M	0.3%	$38.21	—	—	COM	76131D103
—	LIBERTY MEDIA CORP DELAWARE	8,000,000	$287M	0.3%	$35.90	—	—	COM SER C	531229300
—	GENERAL ELECTRIC CO	10,585,502	$281M	0.3%	$26.57	—	—	COM	369604103
—	TWENTY FIRST CENTY FOX INC	6,228,097	$203M	0.2%	$32.54	—	—	CL A	90130A101
SNY	SANOFI	3,905,875	$193M	0.2%	$49.53	—	—	SPONSORED ADR	80105N105
—	LIBERTY MEDIA CORP DELAWARE	4,000,000	$144M	0.1%	$36.04	—	—	CL A	531229102
GHC	GRAHAM HLDGS CO	107,575	$116M	0.1%	$1075.05	—	—	COM	384637104
VRSK	VERISK ANALYTICS INC	1,563,434	$114M	0.1%	$72.76	—	—	CL A	92345Y106
—	MEDIA GEN INC NEW	4,646,220	$76.76M	0.1%	$16.52	—	—	COM	58441K100
DNOW	NOW INC	1,825,569	$36.35M	0.0%	$19.91	—	—	COM	67011P100
JNJ	JOHNSON & JOHNSON	327,100	$31.88M	0.0%	$97.46	—	—	COM	478160104
MDLZ	MONDELEZ INTL INC	578,000	$23.78M	0.0%	$41.14	—	—	CL A	609207105
—	KRAFT FOODS GROUP INC	192,666	$16.4M	0.0%	$85.14	—	—	COM	50076Q106
UPS	UNITED PARCEL SERVICE INC	59,400	$5.756M	0.0%	$96.90	—	—	CL B	911312106
—	LEE ENTERPRISES INC	88,863	$296K	0.0%	$3.33	—	—	COM	523768109