Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
COST	COSTCO WHOLESALE	146,939	$22.26M	4.8%	$88.48	+36.6%	COMMON	22160K105
DIS	WALT DISNEY	181,456	$19.03M	4.1%	$57.03	+61.1%	COMMON	254687106
AAPL	APPLE COMPUTER INC	152,681	$19M	4.1%	$18.22	+47.3%	COMMON	037833100
MMM	3M COMPANY	113,832	$18.78M	4.0%	$64.42	+50.4%	COMMON	88579Y101
JNJ	JOHNSON & JOHNSON	184,039	$18.51M	4.0%	$61.73	+21.7%	COMMON	478160104
HON	HONEYWELL INTERNATIONAL INC.	166,874	$17.41M	3.7%	$55.37	+31.8%	COMMON	438516106
—	ANADARKO PETROLEUM	203,657	$16.86M	3.6%	$87.03	—	COMMON	032511107
VZ	VERIZON COMMUNICATIONS	342,601	$16.66M	3.6%	$26.79	+3.1%	COMMON	92343V104
AWK	AMERICAN WATER WORKS	292,585	$15.86M	3.4%	$32.91	+33.4%	COMMON	030420103
PG	PROCTER & GAMBLE	158,203	$12.96M	2.8%	$55.35	+14.9%	COMMON	742718109
SLB	SCHLUMBERGER LIMITED	143,798	$12M	2.6%	$56.12	+9.3%	COMMON	806857108
IBM	INTL BUSINESS MACHINES	73,213	$11.75M	2.5%	$116.36	-17.1%	COMMON	459200101
—	UNITED TECHNOLOGIES	96,117	$11.27M	2.4%	$97.09	—	COMMON	913017109
EMR	EMERSON ELECTRIC	191,435	$10.84M	2.3%	$41.69	+4.1%	COMMON	291011104
—	WESTAR ENERGY INC.	265,317	$10.28M	2.2%	$31.92	—	COMMON	95709T100
DVN	DEVON ENERGY CORPORATION	169,712	$10.23M	2.2%	$38.04	+9.3%	COMMON	25179M103
ABT	ABBOTT LABORATORIES	220,771	$10.23M	2.2%	$29.16	+28.4%	COMMON	002824100
NSRGY	NESTLE SA REP RG SH ADR	129,496	$9.741M	2.1%	$66.13	—	COMMON	641069406
—	UNILEVER N.V. NY SHRS	227,870	$9.516M	2.0%	$39.62	—	COMMON	904784709
CAT	CATERPILLAR	113,787	$9.106M	2.0%	$63.03	+0.2%	COMMON	149123101
KMI	KINDER MORGAN INC	200,132	$8.417M	1.8%	$22.45	+6.3%	COMMON	49456B101
TMO	THERMO FISHER SCIENTIFIC	52,138	$7.004M	1.5%	$86.22	+44.7%	COMMON	883556102
—	GENERAL ELECTRIC	282,077	$6.998M	1.5%	$23.21	—	COMMON	369604103
WMT	WAL-MART STORES	79,675	$6.553M	1.4%	$19.99	+15.3%	COMMON	931142103
PAA	PLAINS ALL AMER PIPELINE	132,980	$6.485M	1.4%	$56.18	—	COMMON	726503105
—	CRESCENT POINT ENERGY CORP	269,765	$6.026M	1.3%	$35.56	—	COMMON	22576C101
CVX	CHEVRON CORP.	56,940	$5.978M	1.3%	$71.39	-6.3%	COMMON	166764100
—	GOOGLE INC-CL A	10,634	$5.898M	1.3%	$584.96	—	COMMON	38259P508
KMB	KIMBERLY CLARK	52,172	$5.589M	1.2%	$65.34	+16.8%	COMMON	494368103
AEM	AGNICO-EAGLE MINES LTD	194,404	$5.432M	1.2%	$25.13	+1.0%	COMMON	008474108
—	RAYTHEON	48,906	$5.343M	1.2%	$90.07	—	COMMON	755111507
BA	BOEING	35,517	$5.33M	1.1%	$104.07	+22.8%	COMMON	097023105
MRK	MERCK	91,322	$5.249M	1.1%	$30.22	+33.4%	COMMON	58933Y105
—	GOOGLE INC-CL C	9,540	$5.228M	1.1%	$1097.31	—	COMMON	38259P706
QCOM	QUALCOMM	70,820	$4.911M	1.1%	$46.10	+12.0%	COMMON	747525103
—	GOLDCORP	267,838	$4.854M	1.0%	$24.85	—	COMMON	380956409
—	BUCKEYE PARTNERS LP	54,234	$4.095M	0.9%	$70.13	—	COMMON	118230101
CMI	CUMMINS	27,553	$3.82M	0.8%	$100.49	+4.3%	COMMON	231021106
ABBNY	ABB LTD-SPON ADR	163,180	$3.455M	0.7%	$25.16	—	COMMON	000375204
NFG	NATIONAL FUEL GAS CO	57,150	$3.448M	0.7%	$62.26	+3.2%	COMMON	636180101
—	ENERGY TRANSFER PARTNERS LP	58,062	$3.237M	0.7%	$54.42	—	COMMON	29273R109
RRC	RANGE RESOURCES CORP	58,700	$3.055M	0.7%	$76.33	-35.0%	COMMON	75281A109
SIEGY	SIEMENS AG-SPONS ADR	28,115	$3.042M	0.7%	$130.92	—	COMMON	826197501
—	BARRICK GOLD	273,614	$2.998M	0.6%	$16.32	—	COMMON	067901108
T	A T & T INC.	84,981	$2.775M	0.6%	$11.06	+6.6%	COMMON	00206R102
—	MAGELLAN MIDSTREAM PARTNERS, LP.	35,693	$2.738M	0.6%	$59.38	—	COMMON	559080106
—	ENCANA CORP.	209,359	$2.334M	0.5%	$18.13	—	COMMON	292505104
EOG	EOG RESOURCES INC	25,404	$2.329M	0.5%	$65.23	+1.5%	COMMON	26875P101
XOM	EXXON MOBIL	25,254	$2.147M	0.5%	$53.86	+3.2%	COMMON	30231G102
SO	SOUTHERN	48,133	$2.132M	0.5%	$25.57	+17.1%	COMMON	842587107
NOC	NORTHROP GRUMMAN	10,535	$1.696M	0.4%	$68.22	+96.1%	COMMON	666807102
—	PLUM CREEK TIMBER CO	37,382	$1.624M	0.3%	$42.90	—	COMMON	729251108
BRK/A	BERKSHIRE HATHAWAY - CL A	6	$1.305M	0.3%	$165023.42	+33.9%	COMMON	084670108
—	BREITBURN ENERGY PARTNERS LP	232,300	$1.273M	0.3%	$19.94	—	COMMON	106776107
HAL	HALLIBURTON	28,673	$1.258M	0.3%	$36.36	-7.0%	COMMON	406216101
—	CHICAGO BRIDGE & IRON CO NV	23,811	$1.173M	0.3%	$62.28	—	COMMON	167250109
KO	COCA COLA	26,485	$1.074M	0.2%	$27.85	+6.3%	COMMON	191216100
NEE	NEXTERA ENERGY, INC.	9,730	$1.013M	0.2%	$14.93	+33.0%	COMMON	65339F101
KGC	KINROSS GOLD CORP.	448,597	$1.005M	0.2%	$5.35	-45.6%	COMMON	496902404
—	SOVRAN SELF STORAGE INC	10,352	$972K	0.2%	$73.42	—	COMMON	84610H108
KMPR	KEMPER	23,160	$902K	0.2%	$32.74	+12.7%	COMMON	488401100
AMGN	AMGEN INC	5,414	$865K	0.2%	$76.59	+50.2%	COMMON	031162100
—	NEWFIELD EXPLORATION	24,403	$856K	0.2%	$37.90	—	COMMON	651290108
BIIB	BIOGEN IDEC	2,000	$844K	0.2%	$312.11	+26.3%	COMMON	09062X103
EPD	ENTERPRISE PRODUCT PARTNERS L.P.	25,414	$837K	0.2%	$50.73	—	COMMON	293792107
BABA	ALIBABA GROUP HOLDING-SP ADR	10,050	$836K	0.2%	$99.84	—	COMMON	01609W102
PCH	POTLATCH CORP.	19,886	$796K	0.2%	$38.67	—	COMMON	737630103
PEP	PEPSICO	8,067	$771K	0.2%	$60.44	+15.3%	COMMON	713448108
VOD	VODAFONE GROUP PLC SP ADR	22,754	$744K	0.2%	$33.39	—	COMMON	92857W308
RYN	RAYONIER	27,216	$734K	0.2%	$45.89	—	COMMON	754907103
MCK	McKESSON	3,000	$679K	0.1%	$179.33	+13.9%	COMMON	58155Q103
—	SENIOR HOUSING PROP TRUST	29,016	$643K	0.1%	$21.76	—	COMMON	81721M109
—	ACTAVIS PLC	2,121	$631K	0.1%	$274.87	—	COMMON	G0083B108
—	INTEGRYS ENERGY GROUP INC	8,241	$594K	0.1%	$58.50	—	COMMON	45822P105
MSFT	MICROSOFT	14,501	$590K	0.1%	$30.17	+23.4%	COMMON	594918104
GILD	GILEAD SCIENCES INC	5,894	$578K	0.1%	$55.08	+28.1%	COMMON	375558103
AXP	AMERICAN EXPRESS	7,321	$572K	0.1%	$60.50	+17.4%	COMMON	025816109
VTR	VENTAS INC	7,756	$566K	0.1%	$41.21	+29.7%	COMMON	92276F100
BIDU	BAIDU INC - SPON ADR	2,690	$560K	0.1%	$182.36	—	COMMON	056752108
NEM	NEWMONT MINING	25,760	$559K	0.1%	$25.34	-28.0%	COMMON	651639106
IEP	ICAHN ENTERPRISES LP	6,000	$538K	0.1%	$101.44	—	COMMON	451100101
—	CELGENE	4,600	$530K	0.1%	$98.76	—	COMMON	151020104
DUK	DUKE ENERGY CORP	6,500	$499K	0.1%	$41.48	+24.9%	COMMON	26441C204
—	ENBRIDGE ENERGY PARTNERS LP	13,827	$498K	0.1%	$30.98	—	COMMON	29250R106
SRE	SEMPRA ENERGY	4,555	$497K	0.1%	$27.60	+41.9%	COMMON	816851109
RIG	TRANSOCEAN LTD	33,825	$496K	0.1%	$46.00	-64.8%	COMMON	H8817H100
—	CAN REAL ESTATE INVEST TRUST	13,132	$489K	0.1%	$40.13	—	COMMON	13650J104
LMT	LOCKHEED MARTIN	2,345	$476K	0.1%	$95.59	+53.9%	COMMON	539830109
OXY	OCCIDENTAL PETROLEUM	6,318	$461K	0.1%	$63.52	-12.2%	COMMON	674599105
COP	CONOCOPHILLIPS	7,255	$452K	0.1%	$42.90	+6.2%	COMMON	20825C104
GS	GOLDMAN SACHS	2,400	$451K	0.1%	$149.80	0.0%	COMMON	38141G104
CW	CURTISS-WRIGHT	6,016	$445K	0.1%	$32.35	+104.5%	COMMON	231561101
PFE	PFIZER	12,749	$444K	0.1%	$17.19	+16.9%	COMMON	717081103
EQR	EQUITY RESIDENTIAL	5,400	$420K	0.1%	$34.44	+31.6%	COMMON	29476L107
MCY	MERCURY GENERAL	7,050	$407K	0.1%	$43.15	+30.2%	COMMON	589400100
HD	HOME DEPOT INC.	3,378	$384K	0.1%	$85.33	0.0%	COMMON	437076102
—	AQUA AMERICA INC.	14,338	$378K	0.1%	$29.12	—	COMMON	03836W103
BAC	BANK OF AMERICA CORP	24,300	$374K	0.1%	$10.03	+27.2%	COMMON	060505104
—	H&R REAL ESTATE INV-REIT UTS	20,375	$369K	0.1%	$20.76	—	COMMON	404428203
PSA	PUBLIC STORAGE INC.	1,850	$365K	0.1%	$110.47	+17.1%	COMMON	74460D109
ABBV	ABBVIE INC	6,231	$365K	0.1%	$27.51	+41.2%	COMMON	00287Y109
INTC	INTEL CORP	11,579	$362K	0.1%	$25.75	+1.0%	COMMON	458140100
PBR	PETROLEO BRASILEIRO S.A.-ADR	60,183	$361K	0.1%	$13.56	—	COMMON	71654V408
—	TELEDYNE	3,184	$340K	0.1%	$77.26	—	COMMON	087936010
—	KRAFT FOODS GROUP INC	3,890	$339K	0.1%	$56.30	—	COMMON	50076Q106
CME	CME GROUP	3,552	$336K	0.1%	$60.87	0.0%	COMMON	12572Q105
—	ALLEGHENY TECH	11,146	$334K	0.1%	$26.29	—	COMMON	001741R10
BRK/B	BERKSHIRE HATHAWAY CLASS B	2,249	$325K	0.1%	$110.02	+33.7%	COMMON	084670702
FDX	FEDEX CORPORATION	1,918	$317K	0.1%	$147.85	0.0%	COMMON	31428X106
—	HCP INC	7,215	$312K	0.1%	$44.07	—	COMMON	40414L109
WFC	WELLS FARGO & CO.	5,434	$296K	0.1%	$27.36	+45.6%	COMMON	949746101
ECL	ECOLAB	2,500	$286K	0.1%	$73.48	+32.3%	COMMON	278865100
—	MARINE HARVEST ASA- SPON ADR	25,050	$285K	0.1%	$14.06	—	COMMON	56824R205
—	VALE SA-SP ADR	49,314	$279K	0.1%	$13.83	—	COMMON	91912E109
—	CTRIP.COM INTERNATIONAL-ADR	4,700	$276K	0.1%	$45.53	—	COMMON	22943F100
VRTX	VERTEX PHARMACEUTICALS INC	2,300	$271K	0.1%	$112.63	+6.4%	COMMON	92532F100
—	SOUTHERN CAL ED PFD E	10,667	$264K	0.1%	$24.19	—	PREFERRED	842400509
MO	ALTRIA GROUP INC	5,195	$260K	0.1%	$20.68	+26.7%	COMMON	02209S103
SJM	JM SMUCKER	2,227	$258K	0.1%	$70.84	+12.1%	COMMON	832696405
—	DU PONT (E.I.) DE NEMOURS	3,610	$258K	0.1%	$67.20	—	COMMON	263534109
—	PHARMACYCLICS INC	1,000	$256K	0.1%	$122.50	—	COMMON	716933106
META	FACEBOOK INC-A	3,000	$247K	0.1%	$75.91	+2.5%	COMMON	30303M102
WMMVY	WAL-MART DE MEXICO SA ADR	9,600	$239K	0.1%	$28.02	—	COMMON	93114W107
—	UNITEDHEALTH GROUP INC.	2,000	$237K	0.1%	$118.50	—	COMMON	091324P10
MCD	MCDONALDS	2,394	$233K	0.1%	$71.25	+1.3%	COMMON	580135101
FFIV	F5 NETWORKS INC	2,000	$230K	0.0%	$107.63	+9.3%	COMMON	315616102
BMY	BRISTOL-MYERS SQUIBB	3,504	$226K	0.0%	$34.21	+27.0%	COMMON	110122108
ELV	ANTHEM INC	1,400	$216K	0.0%	$122.05	0.0%	COMMON	036752103
TRN	TRINITY INDUSTRIES INC	6,000	$213K	0.0%	$15.66	0.0%	COMMON	896522109
—	AETNA	2,000	$213K	0.0%	$106.50	—	COMMON	00817Y108
BAX	BAXTER INTERNATIONAL	3,077	$211K	0.0%	$33.43	-5.3%	COMMON	071813109
SBUX	STARBUCKS	2,200	$208K	0.0%	$36.12	0.0%	COMMON	855244109
—	CENTRAL GOLDTRUST	5,160	$208K	0.0%	$43.33	—	COMMON	153546106
JPM	J.P. MORGAN CHASE & CO.	3,401	$206K	0.0%	$44.70	-0.9%	COMMON	46625H100
NKE	NIKE CLASS B	2,000	$201K	0.0%	$41.68	0.0%	COMMON	654106103
—	LINN CO LLC	17,750	$170K	0.0%	$29.56	—	COMMON	535782106
CAPLEUR	CAPITALAND LTD	40,000	$104K	0.0%	$2.55	—	COMMON	Y10923103
—	IMMUNOCELLULAR THERAPEUTICS	28,000	$14,000	0.0%	$1.93	—	COMMON	452536105
KRED	KONARED CORP	11,500	$3,000	0.0%	$0.72	-80.6%	COMMON	50048Y104
—	ROCK CREEK PHARMACEUTICALS I	16,300	$2,000	0.0%	$0.18	—	COMMON	772081204
—	MID-AMERICA APARTMENT COMM	288	$0	0.0%	—	—	COMMON	059522J10
—	PFF BANCORP INC	13,610	$0	0.0%	—	—	COMMON	69331W104