Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UNH	UNITEDHEALTH GROUP INC COM	343,011	$28.04M	6.8%	$50.75	+28.5%	Common	91324P102
KRE	SPDR SERIES TRUST KBW REGL BKG	617,536	$24.9M	6.1%	$33.88	—	Common	78464A698
—	MEDTRONIC INC	385,617	$24.59M	6.0%	$55.79	—	Common	585055106
GLD	SPDR GOLD TRUST	182,968	$23.43M	5.7%	$119.33	—	Common	78463V107
—	POTASH CORP SASK INC	614,002	$23.31M	5.7%	$37.40	—	Common	73755L107
BRK/B	BERKSHIRE HATHAWAY (CLASS B)	131,246	$16.61M	4.0%	$110.02	+15.0%	Common	084670702
—	BROOKFIELD ASSET MGMT	375,060	$16.51M	4.0%	$36.02	—	Common	112585104
LYB	LYONDELLBASELL INDS FCLASS A	153,134	$14.95M	3.6%	$33.40	+55.3%	Common	N53745100
DIS	DISNEY WALT CO	166,665	$14.29M	3.5%	$56.11	+30.9%	Common	254687106
WFC	WELLS FARGO & CO	269,285	$14.15M	3.4%	$27.36	+32.7%	Common	949746101
—	WELLPOINT HEALTH NETWORKS NEW	122,890	$13.22M	3.2%	$83.61	—	Common	94973V107
MA	MASTERCARD INC	174,603	$12.83M	3.1%	$71.23	-2.8%	Common	57636Q104
—	APACHE CORP	126,695	$12.75M	3.1%	$85.94	—	Common	037411105
—	NORDSTROM INC	184,411	$12.53M	3.0%	$59.89	—	Common	655664100
QCOM	QUALCOMM	156,770	$12.42M	3.0%	$54.02	+6.1%	Common	747525103
ORCL	ORACLE CORPORATION	306,190	$12.41M	3.0%	$27.58	+25.7%	Common	68389X105
VTR	VENTAS INC COM	192,876	$12.36M	3.0%	$41.26	+7.9%	Common	92276F100
—	JOY GLOBAL INC	198,791	$12.24M	3.0%	$49.09	—	Common	481165108
CCL	CARNIVAL CORP	323,849	$12.19M	3.0%	$29.30	+11.0%	Common	143658300
CSCO	CISCO SYSTEMS	481,622	$11.97M	2.9%	$15.22	+9.4%	Common	17275R102
BCE	B C E INC NEW F	262,970	$11.93M	2.9%	$22.28	+3.4%	Common	05534B760
MAT	MATTEL INC	302,520	$11.79M	2.9%	$38.81	0.0%	Common	577081102
AVAV	AEROVIRONMENT INC	351,275	$11.17M	2.7%	$19.48	+73.9%	Common	008073108
—	GAP INC DEL	262,095	$10.89M	2.7%	$41.57	—	Common	780259206
WIP	SPDR INTL INFLATION GOVT ETF	139,092	$8.625M	2.1%	$57.57	—	Common	78464A490
—	GOOGLE INC CLASS C NON VOTING	9,971	$5.736M	1.4%	$575.27	—	Common	38259P706
—	YAHOO! INC	156,120	$5.484M	1.3%	$35.13	—	Common	984332106
—	POWERSHARES ETF CHINESE YUAN D	113,640	$2.803M	0.7%	$24.69	—	Common	73937B753
IGSB	ISHARES TR BARCLAYS 1-3 YEAR C	14,503	$1.533M	0.4%	$105.11	—	Common	464288646
XOM	EXXON MOBIL CORPORATION	11,696	$1.178M	0.3%	$53.71	+15.2%	Common	30231G102
SPY	SPDR - S&P500 INDEX	5,964	$1.167M	0.3%	$168.81	—	Common	78462F103
BMY	BRISTOL MYERS SQUIBB	21,927	$1.064M	0.3%	$28.67	+16.9%	Common	110122108
—	STATOIL ASA	30,630	$944K	0.2%	$21.37	—	Common	85771P102
CVX	CHEVRON TEXACO CORPORATION	6,918	$903K	0.2%	$71.30	+6.5%	Common	166764100
BMO	BANK MONTREAL QUE COM	11,240	$827K	0.2%	$36.76	+18.5%	Common	063671101
—	REYNOLDS AMERICAN INC COM	13,495	$814K	0.2%	$48.44	—	Common	761713106
KMB	KIMBERLY CLARK CORP	6,785	$755K	0.2%	$63.42	+13.1%	Common	494368103
PAA	PLAINS ALL AM PIPELINE UNIT LT	10,970	$659K	0.2%	$55.78	—	Common	726503105
HSY	HERSHEY FOODS CORP	5,270	$513K	0.1%	$65.86	+12.9%	Common	427866108
—	UNITED TECHNOLOGIES CP	4,193	$484K	0.1%	$93.23	—	Common	913017109
EPD	ENTERPRISE PRODS PARTN COM	6,156	$482K	0.1%	$62.56	—	Common	293792107
SLV	ISHARES SILVER TRUST ISHARES	20,082	$407K	0.1%	$19.04	—	Common	46428Q109
UNP	UNION PAC CORP	3,716	$371K	0.1%	$66.19	+13.0%	Common	907818108
—	KINDER MORGAN ENERGY UT LTD PA	3,940	$324K	0.1%	$85.36	—	Common	494550106
AAPL	APPLE COMPUTER INC	3,472	$323K	0.1%	$17.87	+4.4%	Common	037833100
ET	ENERGY TRANSFER EQUITY COM UT	4,580	$270K	0.1%	$46.72	—	Common	29273V100
JNJ	JOHNSON & JOHNSON	2,545	$266K	0.1%	$60.51	+20.9%	Common	478160104
COP	CONOCO PHILLIPS	2,966	$254K	0.1%	$39.96	+33.5%	Common	20825C104
MDLZ	MONDELEZ INTL INC CL A	6,735	$253K	0.1%	$23.29	+21.5%	Common	609207105
CPB	CAMPBELL SOUP COMPANY	5,510	$252K	0.1%	$28.92	+9.1%	Common	134429109
FCX	FREEPORT MCMORAN COPPER	6,875	$251K	0.1%	$29.56	0.0%	Common	35671D857
CAG	CONAGRA INCORPORATED	8,375	$249K	0.1%	$16.30	0.0%	Common	205887102
AIG	AMERICAN INTL GROUP	4,450	$243K	0.1%	$40.41	0.0%	Common	026874784
SO	THE SOUTHERN COMPANY	5,320	$241K	0.1%	$26.74	+0.8%	Common	842587107
MMM	MINNESOTA MNG & MFG CO	1,630	$233K	0.1%	$61.26	+32.3%	Common	88579Y101
ILMN	ILLUMINA INC COM	1,270	$227K	0.1%	$149.19	0.0%	Common	452327109
XEL	XCEL ENERGY INC	7,000	$226K	0.1%	$19.89	+7.3%	Common	98389B100
—	ENERGY TRANSFER PARTNERS LP UN	3,644	$211K	0.1%	$57.90	—	Common	29273R109
LQD	ISHARES IBOXX INV GRADE CORP B	1,734	$207K	0.1%	$113.71	—	Common	464287242
PEP	PEPSICO INC	2,285	$204K	0.0%	$60.92	0.0%	Common	713448108
—	GOOGLE INC CLASS A	345	$202K	0.0%	$880.35	—	Common	38259P508
OSUR	ORASURE TECHNOLOGIES COM	15,000	$129K	0.0%	$7.00	+0.2%	Common	68554V108
—	MILLER ENERGY RES INC COM	12,910	$83,000	0.0%	$6.78	—	Common	600527105
NG	NOVAGOLD RES INC NEW F	15,000	$63,000	0.0%	$2.84	+24.5%	Common	66987E206
—	FRONTLINE LTD SHS	21,000	$61,000	0.0%	$3.43	—	Common	G3682E127