Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
COST	COSTCO WHOLESALE	170,965	$21.43M	4.3%	$88.24	+10.1%	COMMON	22160K105
—	ANADARKO PETROLEUM	199,460	$20.23M	4.0%	$87.13	—	COMMON	032511107
JNJ	JOHNSON & JOHNSON	184,809	$19.7M	3.9%	$61.73	+22.4%	COMMON	478160104
MMM	3M COMPANY	133,785	$18.95M	3.8%	$64.42	+29.6%	COMMON	88579Y101
HON	HONEYWELL INTERNATIONAL INC.	202,667	$18.87M	3.8%	$55.37	+21.2%	COMMON	438516106
DIS	WALT DISNEY	202,920	$18.07M	3.6%	$57.03	+39.1%	COMMON	254687106
VZ	VERIZON COMMUNICATIONS	349,933	$17.49M	3.5%	$26.79	+3.7%	COMMON	92343V104
AAPL	APPLE COMPUTER INC	149,382	$15.05M	3.0%	$17.99	+20.2%	COMMON	037833100
IBM	INTL BUSINESS MACHINES	76,858	$14.59M	2.9%	$116.36	-1.7%	COMMON	459200101
SLB	SCHLUMBERGER LIMITED	143,317	$14.57M	2.9%	$56.12	+41.6%	COMMON	806857108
AWK	AMERICAN WATER WORKS	282,215	$13.61M	2.7%	$32.56	+19.7%	COMMON	030420103
EMR	EMERSON ELECTRIC	213,973	$13.39M	2.7%	$41.69	+14.6%	COMMON	291011104
PG	PROCTER & GAMBLE	157,827	$13.22M	2.6%	$55.35	+7.9%	COMMON	742718109
DVN	DEVON ENERGY CORPORATION	171,097	$11.66M	2.3%	$38.04	+32.2%	COMMON	25179M103
NSRGY	NESTLE SA REP RG SH ADR	157,102	$11.57M	2.3%	$66.13	—	COMMON	641069406
CAT	CATERPILLAR	114,657	$11.36M	2.3%	$63.03	+25.8%	COMMON	149123101
—	CRESCENT POINT ENERGY CORP	289,225	$10.44M	2.1%	$35.56	—	COMMON	22576C101
—	BUCKEYE PARTNERS LP	127,174	$10.13M	2.0%	$70.13	—	COMMON	118230101
—	UNITED TECHNOLOGIES	94,672	$9.997M	2.0%	$96.50	—	COMMON	913017109
QCOM	QUALCOMM	122,665	$9.172M	1.8%	$46.10	+20.2%	COMMON	747525103
—	UNILEVER N.V. NY SHRS	231,108	$9.171M	1.8%	$39.57	—	COMMON	904784709
ABT	ABBOTT LABORATORIES	218,505	$9.088M	1.8%	$29.16	+17.0%	COMMON	002824100
—	WESTAR ENERGY INC.	262,137	$8.944M	1.8%	$31.80	—	COMMON	95709T100
—	KINDER MORGAN ENERGY PRTNRS L.P.	91,323	$8.519M	1.7%	$84.15	—	COMMON	494550106
PAA	PLAINS ALL AMER PIPELINE	132,980	$7.827M	1.6%	$56.18	—	COMMON	726503105
—	GENERAL ELECTRIC	279,007	$7.148M	1.4%	$23.19	—	COMMON	369604103
CVX	CHEVRON CORP.	58,350	$6.963M	1.4%	$71.39	+10.0%	COMMON	166764100
—	GOLDCORP	278,507	$6.414M	1.3%	$24.85	—	COMMON	380956409
TMO	THERMO FISHER SCIENTIFIC	51,603	$6.28M	1.3%	$85.27	+37.6%	COMMON	883556102
—	GOOGLE INC-CL A	10,585	$6.228M	1.2%	$584.96	—	COMMON	38259P508
WMT	WAL-MART STORES	80,675	$6.169M	1.2%	$19.99	+1.6%	COMMON	931142103
AEM	AGNICO-EAGLE MINES LTD	198,664	$5.767M	1.2%	$25.13	+21.8%	COMMON	008474108
KMB	KIMBERLY CLARK	52,567	$5.655M	1.1%	$65.34	+8.4%	COMMON	494368103
—	GOOGLE INC-CL C	9,398	$5.426M	1.1%	$1109.02	—	COMMON	38259P706
MRK	MERCK	91,472	$5.422M	1.1%	$30.22	+30.3%	COMMON	58933Y105
—	RAYTHEON	49,356	$5.016M	1.0%	$90.07	—	COMMON	755111507
BA	BOEING	37,317	$4.753M	0.9%	$104.07	+5.0%	COMMON	097023105
—	BREITBURN ENERGY PARTNERS LP	230,000	$4.674M	0.9%	$20.12	—	COMMON	106776107
—	ENCANA CORP.	213,894	$4.537M	0.9%	$18.13	—	COMMON	292505104
—	BARRICK GOLD	300,196	$4.401M	0.9%	$16.32	—	COMMON	067901108
ABBNY	ABB LTD-SPON ADR	179,080	$4.013M	0.8%	$25.16	—	COMMON	000375204
NFG	NATIONAL FUEL GAS CO	57,150	$4M	0.8%	$62.26	+17.7%	COMMON	636180101
RRC	RANGE RESOURCES CORP	58,700	$3.98M	0.8%	$76.33	-0.0%	COMMON	75281A109
SIEGY	SIEMENS AG-SPONS ADR	31,880	$3.796M	0.8%	$130.92	—	COMMON	826197501
—	ENERGY TRANSFER PARTNERS LP	59,062	$3.779M	0.8%	$54.42	—	COMMON	29273R109
T	A T & T INC.	90,729	$3.197M	0.6%	$11.06	+7.6%	COMMON	00206R102
—	MAGELLAN MIDSTREAM PARTNERS, LP.	36,193	$3.047M	0.6%	$59.38	—	COMMON	559080106
CMI	CUMMINS	21,508	$2.838M	0.6%	$99.30	+6.8%	COMMON	231021106
XOM	EXXON MOBIL	24,803	$2.333M	0.5%	$53.81	+14.3%	COMMON	30231G102
SO	SOUTHERN	48,183	$2.103M	0.4%	$25.57	+6.0%	COMMON	842587107
—	CHICAGO BRIDGE & IRON CO NV	31,631	$1.83M	0.4%	$63.89	—	COMMON	167250109
—	PLUM CREEK TIMBER CO	44,682	$1.743M	0.3%	$42.90	—	COMMON	729251108
—	ALLERGAN	9,500	$1.693M	0.3%	$135.61	—	COMMON	001849010
HAL	HALLIBURTON	25,423	$1.64M	0.3%	$35.98	+53.4%	COMMON	406216101
KGC	KINROSS GOLD CORP.	480,407	$1.586M	0.3%	$5.35	-26.6%	COMMON	496902404
NOC	NORTHROP GRUMMAN	10,758	$1.417M	0.3%	$68.22	+53.3%	COMMON	666807102
BRK/A	BERKSHIRE HATHAWAY - CL A	6	$1.241M	0.2%	$165023.42	+21.1%	COMMON	084670108
MCK	McKESSON	6,300	$1.226M	0.2%	$170.26	+3.9%	COMMON	58155Q103
RIG	TRANSOCEAN LTD	36,992	$1.182M	0.2%	$46.00	-14.9%	COMMON	H8817H100
KO	COCA COLA	26,507	$1.131M	0.2%	$27.85	+3.6%	COMMON	191216100
EPD	ENTERPRISE PRODUCT PARTNERS L.P.	25,414	$1.024M	0.2%	$50.73	—	COMMON	293792107
NEE	NEXTERA ENERGY, INC.	9,730	$913K	0.2%	$14.93	+20.0%	COMMON	65339F101
—	NEWFIELD EXPLORATION	23,903	$886K	0.2%	$37.98	—	COMMON	651290108
PBR	PETROLEO BRASILEIRO S.A.-ADR	62,233	$883K	0.2%	$13.56	—	COMMON	71654V408
RYN	RAYONIER	27,216	$848K	0.2%	$45.89	—	COMMON	754907103
PCH	POTLATCH CORP.	19,886	$800K	0.2%	$38.67	—	COMMON	737630103
KMPR	KEMPER	23,160	$791K	0.2%	$32.74	+9.1%	COMMON	488401100
EOG	EOG RESOURCES INC	7,904	$782K	0.2%	$62.85	+26.2%	COMMON	26875P101
—	SOVRAN SELF STORAGE INC	10,352	$770K	0.2%	$73.42	—	COMMON	84610H108
AMGN	AMGEN INC	5,414	$760K	0.2%	$76.59	+23.4%	COMMON	031162100
—	ENBRIDGE ENERGY PARTNERS LP	18,827	$731K	0.1%	$30.51	—	COMMON	29250R106
AXP	AMERICAN EXPRESS	7,317	$641K	0.1%	$60.50	+26.4%	COMMON	025816109
NEM	NEWMONT MINING	27,360	$631K	0.1%	$25.34	-21.6%	COMMON	651639106
OXY	OCCIDENTAL PETROLEUM	6,334	$609K	0.1%	$63.52	+7.1%	COMMON	674599105
—	SENIOR HOUSING PROP TRUST	29,016	$608K	0.1%	$21.76	—	COMMON	81721M109
PEP	PEPSICO	6,447	$600K	0.1%	$58.11	+11.6%	COMMON	713448108
GILD	GILEAD SCIENCES INC	5,594	$595K	0.1%	$53.65	+26.8%	COMMON	375558103
COP	CONOCOPHILLIPS	7,750	$593K	0.1%	$42.90	+32.1%	COMMON	20825C104
IEP	ICAHN ENTERPRISES LP	5,500	$582K	0.1%	$102.25	—	COMMON	451100101
—	CAN REAL ESTATE INVEST TRUST	13,132	$572K	0.1%	$40.13	—	COMMON	13650J104
MSFT	MICROSOFT	12,158	$564K	0.1%	$28.30	+33.1%	COMMON	594918104
—	LINN CO LLC	19,000	$550K	0.1%	$29.91	—	COMMON	535782106
—	VALE SA-SP ADR	49,314	$543K	0.1%	$13.83	—	COMMON	91912E109
—	INTEGRYS ENERGY GROUP INC	8,241	$534K	0.1%	$58.50	—	COMMON	45822P105
DUK	DUKE ENERGY CORP	6,700	$501K	0.1%	$41.48	+10.0%	COMMON	26441C204
INTC	INTEL CORP	13,973	$487K	0.1%	$25.75	0.0%	COMMON	458140100
VTR	VENTAS INC	7,756	$480K	0.1%	$41.21	+7.3%	COMMON	92276F100
SRE	SEMPRA ENERGY	4,555	$480K	0.1%	$27.60	+31.0%	COMMON	816851109
BAC	BANK OF AMERICA CORP	28,025	$478K	0.1%	$10.03	+25.4%	COMMON	060505104
LMT	LOCKHEED MARTIN	2,420	$442K	0.1%	$95.59	+30.6%	COMMON	539830109
—	ALLEGHENY TECH	11,146	$414K	0.1%	$26.29	—	COMMON	001741R10
CW	CURTISS-WRIGHT	6,016	$397K	0.1%	$32.35	+95.8%	COMMON	231561101
—	H&R REAL ESTATE INV-REIT UTS	20,375	$396K	0.1%	$20.76	—	COMMON	404428203
—	SANDISK	4,000	$392K	0.1%	$98.00	—	COMMON	80004C101
WYNN	WYNN RESORTS LTD	2,000	$374K	0.1%	$170.16	-2.1%	COMMON	983134107
—	MARINE HARVEST ASA- SPON ADR	25,250	$355K	0.1%	$14.06	—	COMMON	56824R205
—	CELGENE	3,700	$351K	0.1%	$94.86	—	COMMON	151020104
MCY	MERCURY GENERAL	7,050	$344K	0.1%	$43.15	+14.4%	COMMON	589400100
BIIB	BIOGEN IDEC	1,023	$338K	0.1%	$300.97	+9.6%	COMMON	09062X103
—	AQUA AMERICA INC.	14,338	$337K	0.1%	$29.12	—	COMMON	03836W103
ABBV	ABBVIE INC	5,816	$336K	0.1%	$26.60	+32.2%	COMMON	00287Y109
EQR	EQUITY RESIDENTIAL	5,400	$333K	0.1%	$34.44	+7.2%	COMMON	29476L107
BUD	ANHEUSER BUSCH	3,000	$333K	0.1%	$115.00	—	COMMON	03524A108
—	PANERA BREAD COMPANY-CLASS A	2,000	$325K	0.1%	$162.50	—	COMMON	69840W108
PFE	PFIZER	10,865	$321K	0.1%	$16.64	+4.9%	COMMON	717081103
BRK/B	BERKSHIRE HATHAWAY CLASS B	2,249	$311K	0.1%	$110.02	+21.1%	COMMON	084670702
PSA	PUBLIC STORAGE INC.	1,850	$307K	0.1%	$110.47	0.0%	COMMON	74460D109
—	TELEDYNE	3,184	$299K	0.1%	$77.26	—	COMMON	087936010
BIDU	BAIDU INC - SPON ADR	1,365	$298K	0.1%	$152.22	—	COMMON	056752108
UAA	UNDER ARMOUR INC-CLASS A	4,300	$297K	0.1%	$33.36	0.0%	COMMON	904311107
ECL	ECOLAB	2,500	$287K	0.1%	$73.48	+35.1%	COMMON	278865100
WFC	WELLS FARGO & CO.	5,434	$282K	0.1%	$27.36	+36.7%	COMMON	949746101
—	CONCHO RESOURCES INC	2,200	$276K	0.1%	$125.45	—	COMMON	20605P101
UPS	UNITED PARCEL SERVICE CL B	2,699	$265K	0.1%	$66.34	0.0%	COMMON	911312106
—	DU PONT (E.I.) DE NEMOURS	3,610	$259K	0.1%	$67.20	—	COMMON	263534109
MCD	MCDONALDS	2,694	$255K	0.1%	$71.25	0.0%	COMMON	580135101
—	SOUTHERN CAL ED PFD E	10,667	$251K	0.1%	$24.19	—	PREFERRED	842400509
—	CENTRAL GOLDTRUST	6,060	$251K	0.1%	$43.33	—	COMMON	153546106
WMMVY	WAL-MART DE MEXICO SA ADR	9,600	$241K	0.0%	$28.02	—	COMMON	93114W107
—	WELLPOINT INC.	2,000	$239K	0.0%	$107.50	—	COMMON	94973V107
MO	ALTRIA GROUP INC	5,195	$239K	0.0%	$20.68	0.0%	COMMON	02209S103
FFIV	F5 NETWORKS INC	2,000	$237K	0.0%	$107.63	+9.1%	COMMON	315616102
AMZN	AMAZON.COM	700	$226K	0.0%	$15.43	+7.8%	COMMON	023135106
BP	BP PLC ADR - SPONS ADR	5,050	$222K	0.0%	$41.71	—	COMMON	055622104
BAX	BAXTER INTERNATIONAL	3,077	$221K	0.0%	$33.43	0.0%	COMMON	071813109
SJM	JM SMUCKER	2,227	$220K	0.0%	$70.84	+3.7%	COMMON	832696405
—	KRAFT FOODS GROUP INC	3,890	$219K	0.0%	$56.30	—	COMMON	50076Q106
V	VISA INC CLASS A	1,000	$213K	0.0%	$49.64	-0.1%	COMMON	92826C839
SNY	SANOFI-AVENTIS-ADR	3,750	$212K	0.0%	$56.53	—	COMMON	80105N105
BMY	BRISTOL-MYERS SQUIBB	4,104	$210K	0.0%	$34.21	0.0%	COMMON	110122108
CAPLEUR	CAPITALAND LTD	40,000	$102K	0.0%	$2.55	—	COMMON	Y10923103
—	IMMUNOCELLULAR THERAPEUTICS	28,000	$25,000	0.0%	$1.93	—	COMMON	452536105
—	ROCK CREEK PHARMACEUTICALS I	16,300	$5,000	0.0%	$0.61	—	COMMON	772081105
KRED	KONARED CORP	11,500	$4,000	0.0%	$0.72	-44.1%	COMMON	50048Y104
—	PFF BANCORP INC	13,610	$0	0.0%	—	—	COMMON	69331W104
—	ROCK ENERGY RESOURCES INC	208,276	$0	0.0%	$0.01	—	COMMON	77208P102