Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	JOHNSON CONTROLS INC	501,634	$25.73M	7.3%	$35.79	—	COM	478366107
GM	GENERAL MOTORS CORP.	554,907	$22.68M	6.5%	$23.62	+19.3%	COM	37045V100
MSFT	MICROSOFT CORPORATION	552,251	$20.66M	5.9%	$26.71	+12.4%	COM	594918104
CVS	CVS CAREMARK CORPORATION	283,097	$20.26M	5.8%	$41.44	+11.8%	COM	126650100
WFC	WELLS FARGO & CO	434,754	$19.74M	5.6%	$27.36	+12.4%	COM	949746101
BK	BANK OF NEW YORK CO (New)	528,065	$18.45M	5.3%	$21.22	+14.5%	COM	064058100
MKL	MARKEL CORP COM	30,914	$17.94M	5.1%	$523.61	+3.6%	COM	570535104
EMR	EMERSON ELECTRIC CO	236,504	$16.6M	4.7%	$40.02	+20.4%	COM	291011104
VLO	VALERO ENERGY CORP.	306,623	$15.45M	4.4%	$24.06	+11.6%	COM	91913Y100
—	CHUBB CORPORATION	149,067	$14.4M	4.1%	$84.80	—	COM	171232101
CCL	CARNIVAL CORPORATION	354,626	$14.24M	4.1%	$27.66	+5.8%	COM	143658300
MRK	MERCK & CO. INC.	244,500	$12.24M	3.5%	$30.02	+4.2%	COM	58933Y105
—	LIBERTY MEDIA HLDG CP A INTERA	381,879	$11.21M	3.2%	$23.02	—	COM	53071M104
FLR	FLUOR CORP	129,673	$10.41M	3.0%	$53.56	+26.3%	COM	343412102
RWT	REDWOOD TRUST INC	502,720	$9.737M	2.8%	$17.43	—	COM	758075402
INTC	INTEL CORPORATION	371,357	$9.638M	2.7%	$17.90	+0.1%	COM	458140100
—	NATIONAL OIL WELL VARCO	109,487	$8.707M	2.5%	$69.00	—	COM	637071101
—	LEUCADIA NATIONAL COR	300,050	$8.503M	2.4%	$28.34	—	COM	527288104
AEO	AMERN EAGLE OUTFIT NEW COM	562,524	$8.1M	2.3%	$11.70	-10.6%	COM	02553E106
—	HUBBELL, INC. (CLASS B)	68,453	$7.454M	2.1%	$99.00	—	COM	443510201
—	UNILEVER PLC ADR	174,826	$7.203M	2.1%	$40.45	—	COM	904767704
KSS	KOHL'S CORPORATION	125,903	$7.145M	2.0%	$49.51	+10.7%	COM	500255104
HSBC	HSBC HLDGS PLC ADS	118,706	$6.544M	1.9%	$51.90	—	COM	404280406
XOM	EXXON MOBIL CORPORATION	53,838	$5.449M	1.6%	$53.80	+4.0%	COM	30231G102
—	MEDTRONIC INC.	66,886	$3.838M	1.1%	$51.47	—	COM	585055106
CVX	CHEVRON CORP	26,677	$3.332M	0.9%	$71.30	+1.7%	COM	166764100
BA	BOEING COMPANY	22,895	$3.125M	0.9%	$80.37	+38.0%	COM	097023105
PFE	PFIZER INC.	72,438	$2.218M	0.6%	$16.48	+6.9%	COM	717081103
PG	PROCTER & GAMBLE CO.	24,153	$1.966M	0.6%	$55.41	+4.7%	COM	742718109
—	ROCKWELL COLLINS	23,277	$1.721M	0.5%	$63.44	—	COM	774341101
—	UNITED TECHNOLOGIES	12,998	$1.48M	0.4%	$103.16	—	COM	913017109
JNJ	JOHNSON & JOHNSON	13,764	$1.261M	0.4%	$59.85	+9.9%	COM	478160104
—	CST BRANDS INC COM	33,551	$1.231M	0.4%	$30.90	—	COM	12646R105
PEP	PEPSICO INC.	13,715	$1.138M	0.3%	$56.00	+3.1%	COM	713448108
—	GENERAL ELECTRIC CO	36,872	$1.034M	0.3%	$23.52	—	COM	369604103
IBM	IBM CORP	4,779	$897K	0.3%	$117.89	-9.7%	COM	459200101
TGT	TARGET CORPORATION	13,802	$873K	0.2%	$46.95	-5.0%	COM	87612E106
CLX	CLOROX COMPANY	8,646	$802K	0.2%	$60.00	+6.3%	COM	189054109
—	ROYAL DUTCH SHELL ADR	10,810	$770K	0.2%	$64.53	—	COM	780259206
SRE	SEMPRA ENERGY	7,580	$681K	0.2%	$28.49	+7.2%	COM	816851109
GPC	GENUINE PARTS COMPANY	6,510	$542K	0.2%	$54.12	+5.7%	COM	372460105
BMY	BRISTOL-MEYERS SQUIBB	9,277	$493K	0.1%	$28.71	+19.0%	COM	110122108
ABT	ABBOTT LABS COM	12,609	$483K	0.1%	$28.79	+1.5%	COM	002824100
NVS	NOVARTIS AG ADS	5,759	$463K	0.1%	$70.67	—	COM	66987V109
MMM	3M COMPANY	3,215	$451K	0.1%	$61.26	+18.6%	COM	88579Y101
KO	COCA-COLA COMPANY	10,118	$418K	0.1%	$27.85	-3.3%	COM	191216100
BRK/B	BERKSHIRE HATHAWAY CL B	3,168	$376K	0.1%	$110.86	+4.3%	COM	084670702
ABBV	ABBVIE INC COM	6,155	$325K	0.1%	$26.59	+14.3%	COM	00287Y109
MRSH	MARSH & McLENNAN COS	6,200	$300K	0.1%	$31.19	+19.9%	COM	571748102
—	MONSANTO CO	2,523	$294K	0.1%	$98.69	—	COM	61166W101
—	GLAXO SMITHKLINE ADS	4,934	$263K	0.1%	$50.06	—	COM	37733W105
DE	DEERE & COMPANY	2,768	$253K	0.1%	$68.04	-0.9%	COM	244199105
COP	CONOCOPHILLIPS	3,477	$246K	0.1%	$40.61	+19.2%	COM	20825C104
CAT	CATERPILLAR INC	2,565	$233K	0.1%	$61.55	+1.8%	COM	149123101
MCK	MCKESSON CORP	1,395	$225K	0.1%	$140.55	0.0%	COM	58155Q103
CL	COLGATE-PALMOLIVE CO	3,324	$217K	0.1%	$48.40	0.0%	COM	194162103
GLW	CORNING INCORPORATED	11,567	$206K	0.1%	$10.49	+14.9%	COM	219350105
AAPL	APPLE COMPUTER INC	358	$201K	0.1%	$16.37	0.0%	COM	037833100
—	STERLING RESOURCES L	40,000	$24,000	0.0%	$0.70	—	COM	858915101