Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WMT	Wal-Mart Stores Inc	3,383,871	$291M	30.8%	$19.99	+9.2%	Common	931142103
BMY	Bristol Myers	1,385,311	$81.77M	8.7%	$35.26	+10.3%	Common	110122108
XOM	Exxon	675,241	$62.43M	6.6%	$55.47	+4.6%	Common	30231G102
PG	Procter & Gamble	636,097	$57.94M	6.1%	$56.01	+15.3%	Common	742718109
KO	Coca-Cola	1,293,468	$54.61M	5.8%	$28.00	+7.3%	Common	191216100
UPS	United Parcel Service	291,035	$32.35M	3.4%	$55.42	+28.0%	Common	911312106
JNJ	Johnson & Johnson	258,858	$27.07M	2.9%	$63.76	+21.2%	Common	478160104
—	Abbott	308,868	$13.9M	1.5%	$45.02	—	Common	2824100
CL	Colgate Palmolive	195,319	$13.51M	1.4%	$48.47	+7.7%	Common	194162103
MSFT	Microsoft	254,203	$11.81M	1.2%	$27.03	+47.5%	Common	594918104
PFE	Pfizer	368,631	$11.48M	1.2%	$17.22	+4.4%	Common	717081103
—	3M Company	68,612	$11.27M	1.2%	$132.26	—	Common	604059105
—	Merck	191,268	$10.86M	1.1%	$49.51	—	Common	589331107
—	B B & T Corp	268,221	$10.43M	1.1%	$38.89	—	Common	54937107
CMCSA	Comcast Corp	170,764	$9.906M	1.0%	$19.53	+8.9%	Common	20030N101
VFC	V F Corp	122,645	$9.186M	1.0%	$59.94	+10.4%	Common	918204108
—	Baxter Intl	122,087	$8.947M	0.9%	$73.28	—	Common	71813109
DIS	Disney Walt Co	94,005	$8.854M	0.9%	$75.49	+7.7%	Common	254687106
TXN	Texas Instruments	165,400	$8.843M	0.9%	$29.16	+28.1%	Common	882508104
JPM	J P Morgan Chase	140,113	$8.768M	0.9%	$40.11	+11.5%	Common	46625H100
VZ	Verizon Communications	183,325	$8.575M	0.9%	$27.25	+1.5%	Common	92343V104
USB	US Bancorp	178,484	$8.022M	0.8%	$24.28	+19.9%	Common	902973304
LOW	Lowes	115,368	$7.937M	0.8%	$35.66	+37.5%	Common	548661107
—	Maxim Integrated Products	228,051	$7.267M	0.8%	$30.26	—	Common	57772K101
PEP	PepsiCo	67,641	$6.396M	0.7%	$59.38	+15.6%	Common	713448108
WMB	Williams Companies	140,930	$6.333M	0.7%	$22.38	+21.4%	Common	969457100
—	SunTrust Banks	147,804	$6.192M	0.7%	$32.34	—	Common	867914103
—	Medtronic	82,882	$5.984M	0.6%	$51.68	—	Common	585055106
COP	ConocoPhillips	84,870	$5.861M	0.6%	$40.98	+19.2%	Common	20825C104
—	A T & T Corp	173,267	$5.82M	0.6%	$33.59	—	Common	1957505
—	Amgen	34,920	$5.562M	0.6%	$159.28	—	Common	31162100
—	Monsanto	45,826	$5.474M	0.6%	$104.28	—	Common	611662107
HAS	Hasbro Inc	97,350	$5.353M	0.6%	$35.64	+10.1%	Common	418056107
SBUX	Starbucks	63,936	$5.245M	0.6%	$28.82	+8.5%	Common	855244109
NUE	Nucor	98,234	$4.818M	0.5%	$34.96	+13.7%	Common	670346105
CAT	Caterpillar	47,830	$4.377M	0.5%	$63.03	+16.4%	Common	149123101
CVS	CVS Corp	45,160	$4.349M	0.5%	$47.06	+36.9%	Common	126650100
SYY	Sysco	108,600	$4.31M	0.5%	$25.79	+11.9%	Common	871829107
HD	Home Depot	37,840	$3.972M	0.4%	$58.46	+28.0%	Common	437076102
—	United Tech	33,290	$3.828M	0.4%	$94.70	—	Common	913017109
—	Eaton Corp	55,958	$3.802M	0.4%	$65.66	—	Common	278058102
UNP	Union Pacific	31,720	$3.778M	0.4%	$74.01	+20.9%	Common	907818108
INTU	Intuit	40,350	$3.719M	0.4%	$55.88	+45.5%	Common	461202103
ZBH	Zimmer Holdings	32,540	$3.69M	0.4%	$73.42	+31.0%	Common	98956P102
SLB	Schlumberger	43,000	$3.672M	0.4%	$56.20	+19.8%	Common	806857108
OXY	Occidental Petroleum	40,380	$3.255M	0.3%	$65.42	-9.4%	Common	674599105
—	Boeing	24,140	$3.137M	0.3%	$129.95	—	Common	97023105
TGT	Target Corp	39,680	$3.012M	0.3%	$47.53	+2.2%	Common	87612E106
—	Autodesk	46,200	$2.774M	0.3%	$60.04	—	Common	52769106
EBAY	eBay	47,960	$2.691M	0.3%	$20.09	+0.6%	Common	278642103
—	Berkshire Hathaway Cl B	16,750	$2.515M	0.3%	$150.15	—	Common	84670207
BF/B	Brown Forman Class B	23,512	$2.305M	0.2%	$30.17	-1.2%	Common	115637209
—	Kellogg	34,650	$2.267M	0.2%	$40.67	0.0%	Common	487836108
—	Praxair Inc	16,780	$2.174M	0.2%	$120.46	—	Common	74005P104
ADBE	Adobe	29,800	$2.166M	0.2%	$70.70	-0.9%	Common	00724F101
LLY	Lilly	31,300	$2.159M	0.2%	$43.45	+27.0%	Common	532457108
—	BP PLC	56,060	$2.137M	0.2%	$38.12	—	Common	55622104
DEO	Diageo PLC	18,606	$2.122M	0.2%	$115.39	—	Common	25243Q205
ORCL	Oracle Systems	46,330	$2.083M	0.2%	$29.29	+17.8%	Common	68389X105
MO	Altria Group	40,655	$2.003M	0.2%	$17.99	+32.0%	Common	02209S103
CSX	CSX Corp	46,859	$1.697M	0.2%	$7.94	+24.0%	Common	126408103
—	DuPont	22,465	$1.661M	0.2%	$55.04	—	Common	263534109
FITB	Fifth Third Bancorp	80,840	$1.647M	0.2%	$12.69	+6.8%	Common	316773100
—	Xilinx	36,150	$1.564M	0.2%	$40.19	—	Common	983919101
DVN	Devon Energy	25,460	$1.558M	0.2%	$41.55	-1.0%	Common	25179M103
GAP	Gap Inc	36,505	$1.537M	0.2%	$27.31	-2.4%	Common	364760108
—	Cigna	14,740	$1.516M	0.2%	$72.50	—	Common	125509109
FISV	Fiserv	20,540	$1.457M	0.2%	$29.99	+14.1%	Common	337738108
NSC	Norfolk Southern	13,207	$1.447M	0.2%	$60.27	+42.4%	Common	655844108
—	St Jude Medical Inc	22,100	$1.437M	0.2%	$52.54	—	Common	790849103
—	ACE LTD	12,300	$1.413M	0.1%	$104.82	—	Common	G0070K103
—	Morgan Stanley Group	33,780	$1.31M	0.1%	$34.69	—	Common	59935P100
—	Fluor	21,340	$1.293M	0.1%	$59.31	—	Common	343861100
—	Allstate	17,026	$1.196M	0.1%	$70.25	—	Common	20002101
MRSH	Marsh & McLennan	20,000	$1.144M	0.1%	$31.19	+45.0%	Common	571748102
—	Bank Of America	61,350	$1.097M	0.1%	$17.88	—	Common	60505104
—	Johnson Controls	19,875	$960K	0.1%	$35.79	—	Common	478366107
—	UBS AG	50,000	$852K	0.1%	$17.37	—	Common	H8920M855
HAL	Halliburton	18,700	$735K	0.1%	$55.20	-28.8%	Common	406216101
—	Analog Devices	11,500	$638K	0.1%	$55.48	—	Common	32654105
—	Kinder Morgan	14,941	$632K	0.1%	$42.30	—	Common	49455P101
—	Dow Chemical	10,861	$495K	0.1%	$35.25	—	Common	260543103
—	Ford Motor	30,240	$468K	0.0%	$14.87	—	Common	345370100
—	Alcoa	27,700	$437K	0.0%	$15.78	—	Common	13817101
—	Krispy Kreme	20,000	$394K	0.0%	$17.15	—	Common	501014104
—	Premiere Global Services	28,300	$300K	0.0%	$12.07	—	Common	740585104
—	Aegon NV-Ord	17,784	$133K	0.0%	$7.48	—	Common	7924103
SYPR	Sypris Solution	12,000	$31,000	0.0%	$4.42	-34.1%	Common	871655106