Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WMT	Wal-Mart Stores Inc	3,379,137	$250M	33.5%	$19.98	-1.0%	Common	931142103
UPS	United Parcel Service	729,945	$66.69M	8.9%	$55.42	+3.1%	Common	911312106
XOM	Exxon	614,869	$52.9M	7.1%	$53.69	+0.9%	Common	30231G102
PG	Procter & Gamble	583,717	$44.12M	5.9%	$55.03	+2.2%	Common	742718109
KO	Coca-Cola	1,060,005	$40.15M	5.4%	$27.79	-3.6%	Common	191216100
JNJ	Johnson & Johnson	233,643	$20.25M	2.7%	$59.83	+6.2%	Common	478160104
MSFT	Microsoft	373,230	$12.42M	1.7%	$26.70	+1.1%	Common	594918104
LOW	Lowes	235,112	$11.19M	1.5%	$32.16	+13.2%	Common	548661107
—	B B & T Corp	268,526	$9.062M	1.2%	$33.75	—	Common	54937107
COP	ConocoPhillips	125,987	$8.757M	1.2%	$40.19	+10.7%	Common	20825C104
—	Merck	179,548	$8.548M	1.1%	$46.45	—	Common	589331107
CL	Colgate Palmolive	127,874	$7.582M	1.0%	$44.39	+0.4%	Common	194162103
SLB	Schlumberger	85,412	$7.547M	1.0%	$53.38	+10.5%	Common	806857108
VZ	Verizon Communications	160,085	$7.471M	1.0%	$27.02	-3.3%	Common	92343V104
—	Abbott	224,468	$7.45M	1.0%	$33.19	—	Common	2824100
—	Medtronic	138,773	$7.389M	1.0%	$51.47	—	Common	585055106
PEP	PepsiCo	83,385	$6.629M	0.9%	$56.11	+1.1%	Common	713448108
TXN	Texas Instruments	162,900	$6.563M	0.9%	$25.31	+9.5%	Common	882508104
USB	US Bancorp	176,263	$6.447M	0.9%	$22.61	+7.7%	Common	902973304
—	Baxter Intl	93,607	$6.149M	0.8%	$65.69	—	Common	71813109
—	A T & T Corp	181,195	$6.128M	0.8%	$33.82	—	Common	1957505
BMY	Bristol Myers	132,238	$6.119M	0.8%	$28.73	+1.7%	Common	110122108
—	3M Company	50,730	$6.057M	0.8%	$109.36	—	Common	604059105
JPM	J P Morgan Chase	115,897	$5.99M	0.8%	$36.61	+5.2%	Common	46625H100
PFE	Pfizer	198,156	$5.692M	0.8%	$16.45	-0.6%	Common	717081103
CMCSA	Comcast Corp	116,700	$5.264M	0.7%	$15.82	+4.6%	Common	20030N101
—	SunTrust Banks	160,313	$5.197M	0.7%	$31.57	—	Common	867914103
—	Monsanto	46,978	$4.903M	0.7%	$99.13	—	Common	611662107
WMB	Williams Companies	128,100	$4.657M	0.6%	$18.02	-1.6%	Common	969457100
NUE	Nucor	92,369	$4.527M	0.6%	$32.41	+6.6%	Common	670346105
TGT	Target Corp	68,894	$4.407M	0.6%	$47.88	-1.5%	Common	87612E106
CAT	Caterpillar	52,842	$4.407M	0.6%	$61.56	+0.1%	Common	149123101
—	UBS AG	207,876	$4.265M	0.6%	$16.95	—	Common	H8920M855
—	United Tech	36,666	$3.953M	0.5%	$92.94	—	Common	913017109
SYY	Sysco	116,400	$3.705M	0.5%	$24.40	-1.7%	Common	871829107
ORCL	Oracle Systems	110,200	$3.655M	0.5%	$27.54	-1.7%	Common	68389X105
—	Eaton Corp	49,913	$3.436M	0.5%	$66.50	—	Common	278058102
NSC	Norfolk Southern	44,109	$3.411M	0.5%	$57.67	-1.2%	Common	655844108
—	Harris Corp	48,695	$2.887M	0.4%	$49.25	—	Common	413875105
SYK	Stryker	42,668	$2.883M	0.4%	$56.92	+4.4%	Common	863667101
SBUX	Starbucks	36,990	$2.847M	0.4%	$25.16	+12.4%	Common	855244109
—	Fluor	39,350	$2.792M	0.4%	$59.32	—	Common	343861100
—	Boeing	22,062	$2.592M	0.3%	$117.49	—	Common	97023105
INTU	Intuit	39,000	$2.586M	0.3%	$54.39	+6.9%	Common	461202103
ZBH	Zimmer Holdings	31,260	$2.567M	0.3%	$67.81	+4.8%	Common	98956P102
—	BP PLC	55,213	$2.32M	0.3%	$42.02	—	Common	55622104
HD	Home Depot	30,072	$2.28M	0.3%	$56.05	+3.2%	Common	437076102
CVS	CVS Corp	38,375	$2.177M	0.3%	$41.54	+3.0%	Common	126650100
EBAY	eBay	38,800	$2.164M	0.3%	$20.13	-0.8%	Common	278642103
DIS	Disney Walt Co	33,150	$2.137M	0.3%	$56.24	+1.2%	Common	254687106
UNP	Union Pacific	13,500	$2.097M	0.3%	$57.27	+5.0%	Common	907818108
MCK	McKesson	15,900	$2.039M	0.3%	$101.46	+10.6%	Common	58155Q103
LLY	Lilly	40,000	$2.013M	0.3%	$42.21	-2.9%	Common	532457108
—	Praxair Inc	16,590	$1.994M	0.3%	$115.78	—	Common	74005P104
FITB	Fifth Third Bancorp	109,162	$1.97M	0.3%	$11.81	+5.6%	Common	316773100
MO	Altria Group	47,928	$1.646M	0.2%	$16.28	-0.7%	Common	02209S103
—	Raytheon	21,327	$1.643M	0.2%	$66.13	—	Common	755111507
—	Maxim Integrated Products	54,800	$1.634M	0.2%	$29.82	—	Common	57772K101
—	Johnson Controls	39,300	$1.63M	0.2%	$35.80	—	Common	478366107
—	DuPont	27,800	$1.627M	0.2%	$52.51	—	Common	263534109
—	Berkshire Hathaway Cl B	14,015	$1.59M	0.2%	$113.45	—	Common	84670207
HAS	Hasbro Inc	33,400	$1.574M	0.2%	$30.32	+3.1%	Common	418056107
OXY	Occidental Petroleum	16,135	$1.509M	0.2%	$58.10	+2.0%	Common	674599105
—	Cigna	19,600	$1.506M	0.2%	$72.50	—	Common	125509109
DVN	Devon Energy	26,060	$1.505M	0.2%	$37.18	+2.5%	Common	25179M103
—	Allergan	14,000	$1.266M	0.2%	$90.43	—	Common	18490102
—	Amgen	10,550	$1.18M	0.2%	$111.85	—	Common	31162100
—	Analog Devices	22,350	$1.051M	0.1%	$47.02	—	Common	32654105
—	Bank Of America	74,999	$1.034M	0.1%	$13.79	—	Common	60505104
—	Xilinx	21,700	$1.016M	0.1%	$39.61	—	Common	983919101
FE	First Energy	27,464	$1.001M	0.1%	$24.57	-9.5%	Common	337932107
CLX	Clorox	11,730	$958K	0.1%	$60.00	-1.1%	Common	189054109
—	ACE LTD	10,042	$939K	0.1%	$93.51	—	Common	G0070K103
CSX	CSX Corp	35,724	$919K	0.1%	$6.70	+2.4%	Common	126408103
MRSH	Marsh & McLennan	20,000	$871K	0.1%	$31.19	+8.1%	Common	571748102
—	Allstate	16,376	$827K	0.1%	$50.50	—	Common	20002101
—	Autodesk	17,900	$736K	0.1%	$41.12	—	Common	52769106
—	GlaxoSmithkline	14,571	$731K	0.1%	$50.17	—	Common	37733W105
—	Dow Chemical	18,300	$702K	0.1%	$32.14	—	Common	260543103
—	Walgreen	12,928	$695K	0.1%	$44.22	—	Common	931422109
STT	State Street Corp	10,365	$681K	0.1%	$44.60	+10.4%	Common	857477103
—	St Jude Medical Inc	12,100	$649K	0.1%	$45.61	—	Common	790849103
BSX	Boston Scientific	41,965	$492K	0.1%	$8.48	+27.5%	Common	101137107
—	KeyCorp	35,008	$399K	0.1%	$11.03	—	Common	493263107
—	Premiere Global Services	31,900	$317K	0.0%	$12.07	—	Common	740585104
—	Alcoa	25,000	$203K	0.0%	$8.12	—	Common	13817101