Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WMT	Wal-Mart Stores Inc	3,377,587	$252M	34.0%	$19.98	0.0%	Common	931142103
UPS	United Parcel Service	714,841	$61.82M	8.4%	$55.38	0.0%	Common	911312106
XOM	Exxon	642,446	$58.05M	7.8%	$53.69	0.0%	Common	30231G102
PG	Procter & Gamble	570,785	$43.95M	5.9%	$55.00	0.0%	Common	742718109
KO	Coca-Cola	998,158	$40.04M	5.4%	$27.85	0.0%	Common	191216100
JNJ	Johnson & Johnson	223,459	$19.19M	2.6%	$59.66	0.0%	Common	478160104
MSFT	Microsoft	414,773	$14.33M	1.9%	$26.70	0.0%	Common	594918104
LOW	Lowes	267,774	$10.95M	1.5%	$32.16	0.0%	Common	548661107
—	3M Company	79,978	$8.746M	1.2%	$109.36	—	Common	604059105
—	Merck	180,548	$8.386M	1.1%	$46.45	—	Common	589331107
VZ	Verizon Communications	157,285	$7.918M	1.1%	$27.04	0.0%	Common	92343V104
ABT	Abbott	218,068	$7.606M	1.0%	$28.85	0.0%	Common	002824100
—	Medtronic	142,272	$7.323M	1.0%	$51.47	—	Common	585055106
TXN	Texas Instruments	208,300	$7.259M	1.0%	$25.31	0.0%	Common	882508104
COP	ConocoPhillips	119,556	$7.233M	1.0%	$39.96	0.0%	Common	20825C104
CL	Colgate Palmolive	118,458	$6.786M	0.9%	$44.38	0.0%	Common	194162103
—	B B & T Corp	195,265	$6.616M	0.9%	$33.88	—	Common	054937107
—	A T & T Corp	178,532	$6.32M	0.9%	$35.40	—	Common	001957505
PEP	PepsiCo	70,385	$5.757M	0.8%	$56.00	0.0%	Common	713448108
USB	US Bancorp	158,249	$5.721M	0.8%	$22.41	0.0%	Common	902973304
SLB	Schlumberger	78,627	$5.634M	0.8%	$52.90	0.0%	Common	806857108
BAX	Baxter Intl	80,442	$5.572M	0.8%	$30.42	0.0%	Common	071813109
PFE	Pfizer	188,640	$5.284M	0.7%	$16.46	0.0%	Common	717081103
BMY	Bristol Myers	116,488	$5.206M	0.7%	$28.67	0.0%	Common	110122108
—	United Tech	55,167	$5.127M	0.7%	$92.94	—	Common	913017109
JPM	J P Morgan Chase	96,972	$5.119M	0.7%	$36.24	0.0%	Common	46625H100
—	SunTrust Banks	160,313	$5.061M	0.7%	$31.57	—	Common	867914103
—	Monsanto	44,238	$4.371M	0.6%	$98.81	—	Common	611662107
TGT	Target Corp	62,714	$4.318M	0.6%	$47.95	0.0%	Common	87612E106
SYY	Sysco	125,700	$4.294M	0.6%	$24.40	0.0%	Common	871829107
—	Raytheon	62,774	$4.151M	0.6%	$66.13	—	Common	755111507
NUE	Nucor	95,253	$4.126M	0.6%	$32.41	0.0%	Common	670346105
WMB	Williams Companies	124,900	$4.056M	0.5%	$18.03	0.0%	Common	969457100
CAT	Caterpillar	47,042	$3.88M	0.5%	$61.55	0.0%	Common	149123101
CMCSA	Comcast Corp	92,000	$3.841M	0.5%	$15.62	0.0%	Common	20030N101
LLY	Lilly	73,288	$3.6M	0.5%	$42.21	0.0%	Common	532457108
—	UBS AG	207,876	$3.523M	0.5%	$16.95	—	Common	H8920M855
NSC	Norfolk Southern	45,044	$3.272M	0.4%	$57.67	0.0%	Common	655844108
ORCL	Oracle Systems	100,800	$3.096M	0.4%	$27.58	0.0%	Common	68389X105
SYK	Stryker	46,098	$2.982M	0.4%	$56.92	0.0%	Common	863667101
—	Fluor	46,950	$2.785M	0.4%	$59.32	—	Common	343861100
BA	Boeing	25,012	$2.562M	0.3%	$80.37	0.0%	Common	097023105
—	Eaton Corp	38,475	$2.532M	0.3%	$65.81	—	Common	278058102
HD	Home Depot	31,612	$2.449M	0.3%	$56.05	0.0%	Common	437076102
—	Harris Corp	49,345	$2.43M	0.3%	$49.25	—	Common	413875105
—	Xilinx	61,100	$2.42M	0.3%	$39.61	—	Common	983919101
INTU	Intuit	39,100	$2.387M	0.3%	$54.39	0.0%	Common	461202103
BP	BP PLC	55,913	$2.334M	0.3%	$41.74	—	Common	055622104
ZBH	Zimmer Holdings	27,000	$2.023M	0.3%	$67.30	0.0%	Common	98956P102
CVS	CVS Corp	35,375	$2.023M	0.3%	$41.44	0.0%	Common	126650100
UNH	UnitedHealth	29,800	$1.951M	0.3%	$50.75	0.0%	Common	91324P102
UNP	Union Pacific	12,600	$1.944M	0.3%	$57.06	0.0%	Common	907818108
SBUX	Starbucks	29,490	$1.932M	0.3%	$24.37	0.0%	Common	855244109
TEVA	Teva Pharmaceutical	46,744	$1.832M	0.2%	$39.19	—	Common	881624209
MCK	McKesson	16,000	$1.832M	0.2%	$101.46	0.0%	Common	58155Q103
DIS	Disney Walt Co	28,050	$1.771M	0.2%	$56.11	0.0%	Common	254687106
CLX	Clorox	20,575	$1.711M	0.2%	$60.00	0.0%	Common	189054109
—	Praxair Inc	14,570	$1.678M	0.2%	$115.17	—	Common	74005P104
MO	Altria Group	47,728	$1.67M	0.2%	$16.28	0.0%	Common	02209S103
—	DuPont	31,425	$1.65M	0.2%	$52.51	—	Common	263534109
—	Berkshire Hathaway Cl B	14,715	$1.647M	0.2%	$111.93	—	Common	084670207
—	Johnson Controls	45,118	$1.615M	0.2%	$35.80	—	Common	478366107
EBAY	eBay	28,900	$1.495M	0.2%	$20.18	0.0%	Common	278642103
—	Cigna	19,600	$1.421M	0.2%	$72.50	—	Common	125509109
AMGN	Amgen	14,400	$1.421M	0.2%	$73.34	0.0%	Common	031162100
HAS	Hasbro Inc	30,300	$1.358M	0.2%	$30.22	0.0%	Common	418056107
FITB	Fifth Third Bancorp	72,031	$1.3M	0.2%	$11.47	0.0%	Common	316773100
BAC	Bank Of America	100,617	$1.294M	0.2%	$10.03	0.0%	Common	060505104
FISV	Fiserv	14,000	$1.224M	0.2%	$21.93	0.0%	Common	337738108
FE	First Energy	32,452	$1.212M	0.2%	$24.57	0.0%	Common	337932107
OXY	Occidental Petroleum	13,035	$1.163M	0.2%	$57.83	0.0%	Common	674599105
DVN	Devon Energy	21,700	$1.126M	0.2%	$37.00	0.0%	Common	25179M103
ADI	Analog Devices	24,150	$1.088M	0.1%	$34.29	0.0%	Common	032654105
—	Allergan	12,200	$1.028M	0.1%	$84.26	—	Common	018490102
ITW	Illinois Tool Works	14,712	$1.018M	0.1%	$49.85	0.0%	Common	452308109
—	St Jude Medical Inc	18,700	$853K	0.1%	$45.61	—	Common	790849103
MRSH	Marsh & McLennan	20,000	$798K	0.1%	$31.19	0.0%	Common	571748102
STT	State Street Corp	10,365	$676K	0.1%	$44.60	0.0%	Common	857477103
—	Walgreen	15,128	$669K	0.1%	$44.22	—	Common	931422109
CSX	CSX Corp	28,724	$666K	0.1%	$6.66	0.0%	Common	126408103
—	Dow Chemical	18,200	$585K	0.1%	$32.14	—	Common	260543103
ADSK	Autodesk	13,000	$441K	0.1%	$37.26	0.0%	Common	052769106
—	Premiere Global Services	34,300	$414K	0.1%	$12.07	—	Common	740585104
BSX	Boston Scientific	41,965	$389K	0.1%	$8.48	0.0%	Common	101137107
—	KeyCorp	35,008	$386K	0.1%	$11.03	—	Common	493263107
—	Hewlett Packard Co	10,059	$249K	0.0%	$24.75	—	Common	428236103
—	Alcoa	25,000	$196K	0.0%	$7.84	—	Common	013817101