Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	ANADARKO PETROLEUM	192,899	$21.12M	4.1%	$109.47	$86.65	—	COMMON	032511107
COST	COSTCO WHOLESALE	173,475	$19.98M	3.9%	$115.16 *	$88.24	+4.0%	COMMON	22160K105
JNJ	JOHNSON & JOHNSON	182,602	$19.1M	3.7%	$104.62 *	$61.56	+18.8%	COMMON	478160104
MMM	3M COMPANY	132,959	$19.05M	3.7%	$143.24 *	$64.42	+25.8%	COMMON	88579Y101
HON	HONEYWELL INTERNATIONAL INC.	204,077	$18.97M	3.7%	$92.95 *	$55.37	+18.6%	COMMON	438516106
DIS	WALT DISNEY	201,140	$17.25M	3.4%	$85.74 *	$57.03	+28.8%	COMMON	254687106
VZ	VERIZON COMMUNICATIONS	343,802	$16.82M	3.3%	$48.93 *	$26.78	+0.1%	COMMON	92343V104
SLB	SCHLUMBERGER LIMITED	141,300	$16.67M	3.3%	$117.95 *	$55.79	+34.2%	COMMON	806857108
EMR	EMERSON ELECTRIC	212,982	$14.13M	2.8%	$66.36 *	$41.69	+17.9%	COMMON	291011104
IBM	INTL BUSINESS MACHINES	76,793	$13.92M	2.7%	$181.27 *	$116.36	-3.5%	COMMON	459200101
DVN	DEVON ENERGY CORPORATION	171,552	$13.62M	2.7%	$79.40 *	$38.04	+28.9%	COMMON	25179M103
AWK	AMERICAN WATER WORKS	272,210	$13.46M	2.6%	$49.45 *	$32.33	+15.2%	COMMON	030420103
AAPL	APPLE COMPUTER INC	143,763	$13.36M	2.6%	$92.93 *	$17.84	+4.6%	COMMON	037833100
—	CRESCENT POINT ENERGY CORP	286,275	$12.69M	2.5%	$44.31	$35.55	—	COMMON	22576C101
CAT	CATERPILLAR	114,617	$12.46M	2.4%	$108.67 *	$63.03	+23.8%	COMMON	149123101
PG	PROCTER & GAMBLE	157,670	$12.39M	2.4%	$78.59 *	$55.35	+5.3%	COMMON	742718109
NSRGY	NESTLE SA REP RG SH ADR	157,552	$12.24M	2.4%	$77.67	$66.13	—	COMMON	641069406
—	UNITED TECHNOLOGIES	93,190	$10.76M	2.1%	$115.45	$96.35	—	COMMON	913017109
—	BUCKEYE PARTNERS LP	126,926	$10.54M	2.1%	$83.06	$70.13	—	COMMON	118230101
ABBV	ABBVIE INC	176,975	$9.989M	2.0%	$56.44 *	$26.60	+24.0%	COMMON	00287Y109
QCOM	QUALCOMM	124,165	$9.834M	1.9%	$79.20 *	$46.10	+24.3%	COMMON	747525103
—	WESTAR ENERGY INC.	253,727	$9.69M	1.9%	$38.19	$31.73	—	COMMON	95709T100
ABT	ABBOTT LABORATORIES	216,627	$8.86M	1.7%	$40.90 *	$29.16	+8.0%	COMMON	002824100
PAA	PLAINS ALL AMER PIPELINE	132,253	$7.942M	1.6%	$60.05	$56.18	—	COMMON	726503105
—	GOLDCORP	279,242	$7.794M	1.5%	$27.91	$24.85	—	COMMON	380956409
AEM	AGNICO-EAGLE MINES LTD	201,164	$7.705M	1.5%	$38.30 *	$25.13	+4.3%	COMMON	008474108
—	KINDER MORGAN ENERGY PRTNRS L.P.	92,695	$7.62M	1.5%	$82.21	$84.15	—	COMMON	494550106
CVX	CHEVRON CORP.	57,954	$7.566M	1.5%	$130.55 *	$71.39	+6.3%	COMMON	166764100
—	GENERAL ELECTRIC	279,947	$7.357M	1.4%	$26.28	$23.19	—	COMMON	369604103
TMO	THERMO FISHER SCIENTIFIC	51,493	$6.076M	1.2%	$118.00 *	$85.27	+33.0%	COMMON	883556102
WMT	WAL-MART STORES	79,825	$5.992M	1.2%	$75.06 *	$19.98	+2.7%	COMMON	931142103
KMB	KIMBERLY CLARK	51,473	$5.725M	1.1%	$111.22 *	$65.22	+10.0%	COMMON	494368103
—	GOOGLE INC-CL A	9,739	$5.694M	1.1%	$584.66	$584.66	—	COMMON	38259P508
—	BARRICK GOLD	306,597	$5.611M	1.1%	$18.30	$16.32	—	COMMON	067901108
—	GOOGLE INC-CL C	9,690	$5.574M	1.1%	$575.23	$1109.02	—	COMMON	38259P706
MRK	MERCK	89,544	$5.18M	1.0%	$57.85 *	$30.02	+26.5%	COMMON	58933Y105
RRC	RANGE RESOURCES CORP	58,700	$5.104M	1.0%	$86.95 *	$76.33	+17.2%	COMMON	75281A109
—	ENCANA CORP.	214,229	$5.079M	1.0%	$23.71	$18.13	—	COMMON	292505104
—	BREITBURN ENERGY PARTNERS LP	220,700	$4.882M	1.0%	$22.12	$20.11	—	COMMON	106776107
NFG	NATIONAL FUEL GAS CO	57,150	$4.475M	0.9%	$78.30 *	$62.26	+18.4%	COMMON	636180101
—	RAYTHEON	48,219	$4.448M	0.9%	$92.25	$89.80	—	COMMON	755111507
BA	BOEING	34,196	$4.351M	0.8%	$127.24 *	$103.59	+8.7%	COMMON	097023105
SIEGY	SIEMENS AG-SPONS ADR	31,590	$4.176M	0.8%	$132.19	$130.92	—	COMMON	826197501
ABBNY	ABB LTD-SPON ADR	179,080	$4.122M	0.8%	$23.02	$25.16	—	COMMON	000375204
—	ENERGY TRANSFER PARTNERS LP	59,325	$3.439M	0.7%	$57.97	$54.42	—	COMMON	29273R109
CMI	CUMMINS	20,633	$3.183M	0.6%	$154.27 *	$99.01	+11.8%	COMMON	231021106
T	A T & T INC.	88,434	$3.127M	0.6%	$35.36 *	$11.04	+6.7%	COMMON	00206R102
—	MAGELLAN MIDSTREAM PARTNERS, LP.	35,840	$3.012M	0.6%	$84.04	$59.38	—	COMMON	559080106
XOM	EXXON MOBIL	24,413	$2.458M	0.5%	$100.68 *	$53.69	+15.2%	COMMON	30231G102
—	CHICAGO BRIDGE & IRON CO NV	33,761	$2.303M	0.4%	$68.21	$63.89	—	COMMON	167250109
SO	SOUTHERN	48,183	$2.187M	0.4%	$45.39 *	$25.57	+5.5%	COMMON	842587107
—	UNILEVER N.V. NY SHRS	49,590	$2.17M	0.4%	$43.76	$39.17	—	COMMON	904784709
—	PLUM CREEK TIMBER CO	45,504	$2.052M	0.4%	$45.09	$42.90	—	COMMON	729251108
HAL	HALLIBURTON	24,123	$1.713M	0.3%	$71.01 *	$34.95	+47.3%	COMMON	406216101
RIG	TRANSOCEAN LTD	37,705	$1.697M	0.3%	$45.01 *	$46.00	-7.5%	COMMON	H8817H100
KGC	KINROSS GOLD CORP.	406,774	$1.684M	0.3%	$4.14	$5.61	-27.5%	COMMON	496902404
KO	COCA COLA	27,778	$1.177M	0.2%	$42.37 *	$27.85	+0.9%	COMMON	191216100
BRK/A	BERKSHIRE HATHAWAY - CL A	6	$1.139M	0.2%	$189833.33	$165023.42	+15.0%	COMMON	084670108
NOC	NORTHROP GRUMMAN	9,326	$1.116M	0.2%	$119.67 *	$62.64	+59.0%	COMMON	666807102
—	ALLERGAN	6,500	$1.1M	0.2%	$169.23	$115.94	—	COMMON	001849010
NEE	NEXTERA ENERGY, INC.	9,730	$997K	0.2%	$102.47 *	$14.93	+20.0%	COMMON	65339F101
RYN	RAYONIER	27,216	$968K	0.2%	$35.57	$45.89	—	COMMON	754907103
EPD	ENTERPRISE PRODUCT PARTNERS L.P.	12,158	$952K	0.2%	$78.30	$62.10	—	COMMON	293792107
PBR	PETROLEO BRASILEIRO S.A.-ADR	64,898	$950K	0.2%	$14.64	$13.56	—	COMMON	71654V408
—	NEWFIELD EXPLORATION	20,563	$909K	0.2%	$44.21	$38.13	—	COMMON	651290108
KMPR	KEMPER	23,160	$854K	0.2%	$36.87	$32.74	+13.0%	COMMON	488401100
PCH	POTLATCH CORP.	19,886	$823K	0.2%	$41.39	$38.67	—	COMMON	737630103
EOG	EOG RESOURCES INC	6,904	$807K	0.2%	$116.89 *	$60.46	+26.8%	COMMON	26875P101
—	SOVRAN SELF STORAGE INC	10,352	$800K	0.2%	$77.28	$73.42	—	COMMON	84610H108
AXP	AMERICAN EXPRESS	8,215	$779K	0.2%	$94.83 *	$60.50	+26.3%	COMMON	025816109
NEM	NEWMONT MINING	27,360	$696K	0.1%	$25.44 *	$25.34	-26.0%	COMMON	651639106
—	ENBRIDGE ENERGY PARTNERS LP	18,680	$690K	0.1%	$36.94	$30.51	—	COMMON	29250R106
—	VALE SA-SP ADR	49,314	$652K	0.1%	$13.22	$13.83	—	COMMON	91912E109
COP	CONOCOPHILLIPS	7,500	$643K	0.1%	$85.73 *	$42.44	+25.7%	COMMON	20825C104
AMGN	AMGEN INC	5,414	$641K	0.1%	$118.40 *	$76.59	+8.8%	COMMON	031162100
MSFT	MICROSOFT	14,770	$616K	0.1%	$41.71 *	$28.30	+20.0%	COMMON	594918104
—	INTEGRYS ENERGY GROUP INC	8,241	$586K	0.1%	$71.11	$58.50	—	COMMON	45822P105
—	CAN REAL ESTATE INVEST TRUST	13,132	$566K	0.1%	$43.10	$40.13	—	COMMON	13650J104
IEP	ICAHN ENTERPRISES LP	5,200	$518K	0.1%	$99.62	$102.04	—	COMMON	451100101
DUK	DUKE ENERGY CORP	6,966	$517K	0.1%	$74.22 *	$41.48	+7.3%	COMMON	26441C204
BIIB	BIOGEN IDEC	1,623	$512K	0.1%	$315.47 *	$300.97	0.0%	COMMON	09062X103
—	ALLEGHENY TECH	11,146	$503K	0.1%	$45.13	$26.29	—	COMMON	001741R10
VTR	VENTAS INC	7,756	$497K	0.1%	$64.08 *	$41.21	+8.1%	COMMON	92276F100
—	NATIONAL OILWELL VARCO	5,835	$481K	0.1%	$82.43	$73.76	—	COMMON	637071101
SRE	SEMPRA ENERGY	4,555	$477K	0.1%	$104.72 *	$27.60	+25.4%	COMMON	816851109
MCK	McKESSON	2,500	$466K	0.1%	$186.40 *	$160.26	+1.9%	COMMON	58155Q103
PEP	PEPSICO	5,180	$463K	0.1%	$89.38 *	$56.46	+7.9%	COMMON	713448108
—	H&R REAL ESTATE INV-REIT UTS	20,375	$444K	0.1%	$21.79	$20.76	—	COMMON	404428203
BAC	BANK OF AMERICA CORP	28,425	$437K	0.1%	$15.37 *	$10.03	+22.1%	COMMON	060505104
V	VISA INC CLASS A	2,000	$421K	0.1%	$210.50 *	$49.64	-3.0%	COMMON	92826C839
—	CENTRAL GOLDTRUST	8,810	$418K	0.1%	$47.45	$43.33	—	COMMON	153546106
CW	CURTISS-WRIGHT	6,016	$394K	0.1%	$65.49 *	$32.35	+90.8%	COMMON	231561101
GS	GOLDMAN SACHS	2,300	$385K	0.1%	$167.39 *	$130.68	-1.5%	COMMON	38141G104
—	AQUA AMERICA INC.	14,338	$376K	0.1%	$26.22	$29.12	—	COMMON	03836W103
LMT	LOCKHEED MARTIN	2,240	$360K	0.1%	$160.71 *	$93.23	+26.9%	COMMON	539830109
WFC	WELLS FARGO & CO.	6,834	$359K	0.1%	$52.53 *	$27.36	+32.7%	COMMON	949746101
—	APACHE	3,500	$352K	0.1%	$100.57	$83.88	—	COMMON	037411105
BUD	ANHEUSER BUSCH	3,000	$345K	0.1%	$115.00	$115.00	—	COMMON	03524A108
EQR	EQUITY RESIDENTIAL	5,400	$340K	0.1%	$62.96 *	$34.44	0.0%	COMMON	29476L107
GILD	GILEAD SCIENCES INC	4,094	$339K	0.1%	$82.80 *	$48.38	+11.8%	COMMON	375558103
MCY	MERCURY GENERAL	7,050	$332K	0.1%	$47.09	$43.15	+8.9%	COMMON	589400100
OXY	OCCIDENTAL PETROLEUM	3,216	$330K	0.1%	$102.61 *	$59.15	+11.9%	COMMON	674599105
—	TELEDYNE	3,184	$309K	0.1%	$97.05	$77.26	—	COMMON	087936010
—	SENIOR HOUSING PROP TRUST	12,500	$304K	0.1%	$24.32	$22.83	—	COMMON	81721M109
BP	BP PLC ADR - SPONS ADR	5,550	$293K	0.1%	$52.79	$41.71	—	COMMON	055622104
BRK/B	BERKSHIRE HATHAWAY CLASS B	2,249	$285K	0.1%	$126.72	$110.02	+15.0%	COMMON	084670702
ECL	ECOLAB	2,500	$278K	0.1%	$111.20 *	$73.48	+28.3%	COMMON	278865100
PFE	PFIZER	8,901	$264K	0.1%	$29.66 *	$16.46	+6.6%	COMMON	717081103
—	DU PONT (E.I.) DE NEMOURS	4,000	$262K	0.1%	$65.50	$67.20	—	COMMON	263534109
WMMVY	WAL-MART DE MEXICO SA ADR	9,600	$256K	0.0%	$26.67	$28.02	—	COMMON	93114W107
BIDU	BAIDU INC - SPON ADR	1,365	$255K	0.0%	$186.81	$152.22	—	COMMON	056752108
—	ROYAL DUTCH SHELL PLC-ADR A	3,040	$250K	0.0%	$82.24	$71.38	—	COMMON	780259206
—	LINN CO LLC	7,900	$247K	0.0%	$31.27	$31.27	—	COMMON	535782106
—	SOUTHERN CAL ED PFD E	10,667	$244K	0.0%	$22.87	$24.19	—	PREFERRED	842400509
TSLA	TESLA MOTORS INC	1,000	$240K	0.0%	$240.00 *	$13.95	0.0%	COMMON	88160R101
SJM	JM SMUCKER	2,227	$237K	0.0%	$106.42 *	$70.84	+0.8%	COMMON	832696405
AMZN	AMAZON.COM	700	$227K	0.0%	$324.29 *	$15.43	+2.6%	COMMON	023135106
FFIV	F5 NETWORKS INC	2,000	$223K	0.0%	$111.50 *	$107.63	0.0%	COMMON	315616102
TRN	TRINITY INDUSTRIES INC	5,000	$219K	0.0%	$43.80 *	$20.13	0.0%	COMMON	896522109
—	WELLPOINT INC.	2,000	$215K	0.0%	$107.50	$107.50	—	COMMON	94973V107
HD	HOME DEPOT INC.	2,600	$210K	0.0%	$80.77 *	$56.18	+7.0%	COMMON	437076102
—	BASF AGENCY EUR	1,800	$210K	0.0%	$116.67	$116.67	—	COMMON	052049717
WYNN	WYNN RESORTS LTD	1,000	$208K	0.0%	$208.00 *	$173.72	0.0%	COMMON	983134107
—	SPORT CHALET INC-CLASS A	49,152	$41,000	0.0%	$0.83	$1.24	—	COMMON	849163209
—	IMMUNOCELLULAR THERAPEUTICS	28,000	$31,000	0.0%	$1.11	$1.93	—	COMMON	452536105
—	ROCK CREEK PHARMACEUTICALS I	16,300	$10,000	0.0%	$0.61	$0.61	—	COMMON	772081105
KRED	KONARED CORP	11,500	$6,000	0.0%	$0.52 *	$0.72	-13.7%	COMMON	50048Y104
—	ROCK ENERGY RESOURCES INC	208,276	$0	0.0%	$0.00	$0.01	—	COMMON	77208P102
—	PFF BANCORP INC	13,610	$0	0.0%	$0.00	—	—	COMMON	69331W104
VFC	VF	150	$0	0.0%	$0.00	$58.12	0.0%	COMMON	918204108